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Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Written by article default Tuesday, 30 November 2010 05:40
EURJPY
EURJPY closed @ 11060 which was BELOW 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 PRECISELY at Precise Trader's Sup Tgt 2. The Hourly Oscillators are showing Bullish Divergence and the Price is Below the MA, so Bears book your profit or remain Sidelined. Hourly Trend is Turning Up while 10930 holds and Daily Trend is Limited Down while 11500 holds, so expect the Price to Turn Up Soon, so the Bears may stay Sidelined and the Bulls get ready to pull the Trigger. 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 Downside Bias but may be limited and the Oscillators are showing Bullish Divergence. The Hourly Trend has been in a Range Trading with no Price Targets and the Patterns are suggesting a Choppy session until the Break, 11110-65 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: 11025 10945 10875 BEARS: 11125 11165 11200
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
GBPJPY
GBPJPY closed @ 13120 which was UNCHANGED from the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Zone 1 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 Turning Up while 12960 holds and Daily Trend is Limited Down while 13340 holds, so expect the Price to Turn Up Soon, so the Bears may stay Sidelined and the Bulls get ready to pull the Trigger. The Daily Trend was within the Prior few Day' s Range but the Bulls gained towards the Close which signifies a Range Trading. The MA is suggesting a Choppy session with a Downside Bias but may be limited 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, 13145-75 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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Today's Strategies: Get the full report by visiting Precise Trader for a Free Trial.
AUDJPY
AUDJPY closed @ 8115 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 PRECISELY at Precise Trader's Sup Tgt 1. The Hourly Oscillators are MIXED and the Price is Within the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 8185 holds and Daily Trend is also Sideways while 7925 holds, so expect the Price to be Choppy until Breakout. The Daily Trend was within the Prior few Day' s Range but the Price Closed unchanged towards the Close which signifies a Range Trading. The MA is suggesting a Choppy session with a Downside Bias but may be limited 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, 8160-85 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.