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Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Written by article default Monday, 29 November 2010 06:12
EURJPY
EURJPY closed @ 11135 which was BELOW the open and was within prior day's trading range. The High was 5 pips from Precise Trader's Res Zone 1 and the Low was 5 pips from Precise Trader's Sup Zone 5 (U Turn Zone). The Hourly Oscillators are MIXED and the Price is Within the MA, so CAUTIOUS approach is needed. Hourly Trend is Limited Down while 11215 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 was within the Prior few Day' s Range but the Bears gave up partially towards the Close which signifies a Range Trading. The MA is suggesting a Choppy session with a Mixed 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, 11220-65 are the Critical levels to watch to watch to maintain the Bearish Outlook. The EUR is Flat with a limited Downside and the JPY is Flat with a Limited Upside Bias, so both the Cross may drag the EURJPY nowhere until we get a Clear break, so Cautious approach is needed .
BULLS: 11065 10995 10920 BEARS: 11205 11280 11350
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
GBPJPY
GBPJPY closed @ 13110 which was BELOW the open and breached the previous day's low. The High was PRECISELY at Precise Trader's Res Zone 1 and the Low was 15 pips from Precise Trader's Sup Tgt 1. The Hourly Oscillators are Bearish but Weak and the Price is Below the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Limited Down while 13245 holds and Daily Trend is also Limited Down while 13350 holds, so expect the Price to have a Minimum Downside and the Bears have to be Cautious. The Daily Trend was within the Prior few Day' s Range but the Bears gained towards the Close which signifies a Range Trading. The MA is suggesting a Choppy session with a Mixed Bias and the Oscillators are Bearish but Weak. The Hourly Trend has been in a Range Trading with no Price Targets and the Patterns are suggesting a Choppy session until the Break, 13165-13245 are the Critical levels to watch to watch to maintain the Bearish Outlook. The GBP is Flat with a limited Downside and the JPY is Flat with a Limited Upside 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 @ 8110 which was BELOW the open and breached the previous day's low. The High was 10 pips from Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Tgt 3. The Hourly Oscillators are MIXED and the Price is Below the MA, so CAUTIOUS approach is needed. Hourly Trend is Limited Down while 8175 holds and Daily Trend is Sideways while 7925 holds, so expect the Price to have a Minimum Downside and the Bears have to be Cautious. The Daily Trend was within the Prior few Day' s Range but the Bears gave up partially towards the Close which signifies a Range Trading. The MA is suggesting a Choppy session with a Mixed 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, 8155-75 are the Critical levels to watch to watch to maintain the Bearish Outlook. The AUD is Flat with a limited Downside and the JPY is Flat with a Limited Upside 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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Today's Strategies: Get the full report by visiting Precise Trader for a Free Trial.