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Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Written by article default Wednesday, 01 December 2010 05:12
EURJPY
EURJPY closed @ 10865 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 Critical Sup. The Hourly Oscillators are Bearish but Oversold and the Price is Below the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Turning Up while 10700 holds and Daily Trend is Limited Down while 11200 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 Plunged below the Prior Day' s Open and the Bears were holding till the Close which signifies some more Weakness but the Price is Trading at Critical levels. The MA is suggesting a Downside Bias but may be limited and the Oscillators are Bearish but Oversold. The Hourly Trend has been in a Range Trading with no Price Targets and the Patterns are suggesting a Choppy session until the Break, 10915-65 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 Downside Bias, so both the Cross may drag the EURJPY nowhere until we get a Clear break, so Cautious approach is needed .
BULLS: 10835 10775 10725 BEARS: 10910 10975 11030
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
GBPJPY
GBPJPY closed @ 13025 which was BELOW the open and breached the previous day's low. The High was 15 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 Sideways while 13145 holds and Daily Trend is Sideways Down while 13325 holds, so expect the Price to be Choppy until Breakout. The Daily Trend Plunged below the Prior Day' s Open and the Bears gave up partially towards the Close which signifies a Range Trading. The MA is suggesting 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, 13080-13145 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 Downside 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 @ 8025 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 PRECISELY at Precise Trader's Sup Tgt 3. 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 Sideways while 8090 holds and Daily Trend is Turning Down while 8300 holds, so expect the Price to be Choppy until Breakout. The Daily Trend Plunged below the Prior Day' s Open and the Bears gave up mildly towards the Close which signifies some more Weakness but the Price is Trading at Critical levels. The MA is suggesting a Downside Bias but may be limited 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, 8065-90 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 Downside 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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