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Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Written by article default Monday, 15 November 2010 06:47
EURJPY
EURJPY closed @ 11300 which was ABOVE the open and was within prior day's trading range. The High was 5 pips from Precise Trader's Hrly Level and the Low was PRECISELY at Precise Trader's Sup Tgt 2. The Hourly Oscillators are Bullish and the Price is Within the MA, so the Bears have to be Sidelined. Hourly Trend is Turning Down while 11445 holds and Daily Trend is Sideways Down while 11575 holds, so expect the Price to Turn Down Soon, so the Bulls may stay Sidelined and the Bears get ready to pull the Trigger. The Daily Trend was within the Prior Day' s Range but the Bulls gained towards the Close which signifies some more Strength. The MA is suggesting a Choppy session with a Limited Upside Bias and the Oscillators are Bullish. The Hourly Trend has been in a Range Trading with no Price Targets and the Patterns are suggesting a Choppy session until the Break, 11250-00 are the Critical levels to watch to watch to maintain the Bullish Outlook. The EUR is Flat with a potential to Turn Down and the JPY is Flat with a potential to Turn Up, so both the Cross may drag the EURJPY nowhere until we get a Clear break, so Cautious approach is needed .
BULLS: 11285 11230 11180 BEARS: 11375 11435 11505
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
GBPJPY
GBPJPY closed @ 13300 which was UNCHANGED from the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Tgt 1 and the Low was 10 pips from Precise Trader's Sup Tgt 3. The Hourly Oscillators are Bullish and the Price is Above the MA, so the Bears have to be Sidelined. Hourly Trend is Turning Down while 13445 holds and Daily Trend is Turning Up while 12785 holds, so expect the Price to Turn Down Soon, so the Bulls may stay Sidelined and the Bears get ready to pull the Trigger. The Daily Trend was within the Prior Day' s Range and the Price closed unchanged towards the Close which signifies some more Strength. The MA is suggesting a Choppy session with a Limited Upside Bias and the Oscillators are Bullish. The Hourly Trend has been in a Range Trading with no Price Targets and the Patterns are suggesting a Choppy session until the Break, 1325-05 are the Critical levels to watch to watch to maintain the Bullish Outlook. The GBP is Flat with a Mixed Bias and the JPY is Flat with a potential to Turn Up, so both the Cross may drag the GBPJPY nowhere until we get a Clear break, so Cautious approach is needed .
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AUDJPY
AUDJPY closed @ 8125 which was BELOW the open and breached the previous day's low. The High was 5 pips from Precise Trader's Res Zone 1 and the Low was 10 pips from Precise Trader's Sup Tgt 3. The Hourly Oscillators are MIXED and the Price is Within the MA, so CAUTIOUS approach is needed. Hourly Trend is Turning Down while 8235 holds and Daily Trend is Sideways while 7940 holds, so expect the Price to Turn Down Soon, so the Bulls may stay Sidelined and the Bears get ready to pull the Trigger. The Daily Trend Plunged below the Prior Day' s Range but the Bears gave up partially towards the Close which signifies some Strength. The MA is suggesting a Choppy session with a Limited Upside Bias and the Oscillators are Mixed. The Hourly Trend has been in a Range Trading with no Price Targets and the Patterns are suggesting a Choppy session until the Break, 8170-8235 are the Critical levels to watch to watch to maintain the Bearish Outlook. The AUD is Flat with a potential to Turn Down and the JPY is Flat with a potential to Turn Up, so both the Cross may drag the AUDJPY nowhere until we get a Clear break, so Cautious approach is needed .
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