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Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Written by article default Thursday, 25 November 2010 06:33
EURJPY
EURJPY closed @ 11140 which was ABOVE the open and was within prior day's trading range. The High was 5 pips from Precise Trader's Res Tgt 1 and the Low was 10 pips from Precise Trader's Sup Tgt 2. The Hourly Oscillators are MIXED and the Price is Below the MA, so CAUTIOUS approach is needed. Hourly Trend is Limited Down while 11225 holds and Daily Trend is also Limited Down while 11500 holds, so expect the Price to have a Minimum Downside and the Bears have to be Cautious. The Daily Trend breached the Prior Day' s Low but the Bulls gained towards the Close which signifies a Range Trading . The MA is suggesting a Downside 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, 11190-11225 are the Critical levels to watch to watch to maintain the Bearish Outlook. The EUR is Flat with a Limited Downside Bias and the JPY is Flat with a Mixed Bias, so both the Cross may drag the EURJPY nowhere until we get a Clear break, so Cautious approach is needed .
BULLS: 11040 10980 10910 BEARS: 11165 11230 11285
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
GBPJPY
GBPJPY closed @ 13175 which was ABOVE the open and was within prior day's trading range. The High was 20 pips from Precise Trader's Res Tgt 2 and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are MIXED and the Price is Below the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 13265 holds and Daily Trend is Turning Up while 12885 holds, so expect the Price to be Choppy until Breakout. The Daily Trend was within the Prior Day' s Range but the Bulls gained towards the Close which signifies a Range Trading . The MA is suggesting a Downside 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, 13230-65 are the Critical levels to watch to watch to maintain the Bearish Outlook. The GBP is Flat with a Limited Downside Bias and the JPY is Flat with a Mixed Bias, 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 @ 8200 which was ABOVE the open and was within prior day's trading range. The High was 10 pips from Precise Trader's Res Zone 5 (U Turn Zone) and the Low was 10 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Turning Bullish and the Price is Within the MA, so the Bears have to be CAUTIOUS. Hourly Trend is Turning Down while 8235 holds and Daily Trend is Sideways while 7925 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 aggressively towards the Close which signifies a Range Trading . The MA is suggesting a Choppy session and the Oscillators are Turning 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, 8235-45 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 Mixed Bias, so both the Cross may drag the AUDJPY nowhere until we get a Clear break, so Cautious approach is needed .
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