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Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Written by article default Wednesday, 08 December 2010 07:06
EURJPY
EURJPY closed @ 11070 which was ABOVE the open and was within prior day's trading range. The High was 5 pips from Precise Trader's Res Zone 5 (U Turn Zone) and the Low was 5 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish and the Price is Within the MA, so the Bears have to be Sidelined. Hourly Trend is Sideways while 10970 holds and Daily Trend is Limited Down while 11345 holds, so expect the Price to be Choppy until Breakout. The Daily Trend was within the Prior Day' s Range and the Bulls gained towards the Close which signifies a Range Trading. The MA is suggesting a Range Trading and the Oscillators are suggesting an Upside Bias. The Hourly Trend has been in a Range Trading with no Price Targets and the Patterns are suggesting a Choppy session until the Break, 11020-10970 are the Critical levels to watch to maintain he Bullish Outlook. The EUR is Weak and the JPY is also Weak, so both the Cross may drag the EURJPY nowhere as both the Crosses are moving in the Opposite Direction.
BULLS: 11015 10965 10925 BEARS: 11125 11175 11235
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
GBPJPY
GBPJPY closed @ 13160 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at Precise Trader's Res Tgt 3 and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish and the Price is Above the MA, so the Bears have to be Sidelined. Hourly Trend is Sideways while 13085 holds and Daily Trend is also Sideways while 13325 holds, so expect the Price to be Choppy until Breakout. The Daily Trend was within the Prior few Day' s Range and the Bulls gained aggressively towards the Close which signifies some strength. The MA is suggesting a Range Trading and the Oscillators are suggesting an Upside Bias. The Hourly Trend has been in a Range Trading with no Price Targets and the Patterns are suggesting a Choppy session until the Break, 13105-13085 are the Critical levels to watch to maintain he Bullish Outlook. The GBP is Flat with mild Weakness and the JPY is Weak, so both the Cross may drag the GBPJPY nowhere as both the Crosses are moving in the Opposite Direction.
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AUDJPY
AUDJPY closed @ 8205 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 1. The Hourly Oscillators are Bullish and the Price is Above the MA, so the Bears have to be Sidelined. Hourly Trend is Sideways while 8165 holds and Daily Trend is also Sideways while 7965 holds, so expect the Price to be Choppy until Breakout. The Daily Trend was within the Prior Day' s Range and the Bulls gained mildly towards the Close which signifies a Range Trading. The MA is suggesting a Range Trading and the Oscillators are suggesting an Upside Bias. The Hourly Trend has been in a Range Trading with no Price Targets and the Patterns are suggesting a Choppy session until the Break, 8165-15 are the Critical levels to watch to maintain he Bullish Outlook. AUD is Flat with a Downside Bias and the JPY is also Weak, so both the Cross may drag the AUDJPY nowhere as both the Crosses are moving in the Opposite Direction.
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Today's Strategies: Get the full report by visiting Precise Trader for a Free Trial.