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Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Written by article default Wednesday, 19 January 2011 06:20
EURJPY
EURJPY closed @ 11055 which was ABOVE the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Zone 5 (U Turn Zone) and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are showing Bearish Divergence and the Price is Within the MA, so Bulls book your profit or remain Sidelined. Hourly Trend is Limited Up while 10950 holds and Daily Trend is Sideways while 10780 holds, so expect the Price to have a Minimum Upside and the Bulls have to be Cautious. The Daily Trend was within the Prior Day' s Range but the Bulls gave up mildly towards the Close and High & Low were both within the prior Day's which signifies some Weakness. The Price is within the MA and the Oscillators are suggesting a limited Upside. The Hourly Trend has been in a Range Trading and the Patterns are suggesting that 11105-25 are the critical levels to watch for the next big move, 11005-10950 are the Critical levels to watch to maintain the Bullish Outlook. The EUR is Strong with a Mixed Bias and the JPY is mildly strong with a Mixed Bias, so the both the Crosses may drag the EURJPY nowhere until there is a Clear Signal.
BULLS: 11035 10965 10875 BEARS: 11125 11205 11285
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
GBPJPY
GBPJPY closed @ 13180 which was ABOVE the open and breached the previous day's high. The High was 10 pips from Precise Trader's Res Zone 5 (U Turn Zone) and the Low was 15 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are MIXED and the Price is Within the MA, so CAUTIOUS approach is needed. Hourly Trend is Limited Up while 13080 holds and Daily Trend is Sideways Up while 12960 holds, so expect the Price to have a Minimum Upside and the Bulls have to be Cautious. The Daily Trend was within the Prior Day' s Range but the Bulls gave up partially towards the Close and the Low was within the Prior Day's which signifies a Range Trading with some Weakness. The Price is within the MA and the Oscillators are suggesting Mixed signals. The Hourly Trend has been in a Range Trading and the Patterns are suggesting a Choppy session with a potential to break lower, 13125/13080 are the Critical levels to watch to maintain he Bullish Outlook. The GBP is strong with a Limited Upside and the JPY is mildly Strong with a Mixed Bias, so the GBP may drag the GBPJPY Lower once the GBP has reversed Down.
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AUDJPY
AUDJPY closed @ 8250 which was ABOVE the open and breached the previous day's high. The High was 5 pips from Precise Trader's Res Zone 1 and the Low was 5 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish but Weak and the Price is Within the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Sideways while 8170 holds and Daily Trend is also Sideways while 8365 holds, so expect the Price to be Choppy until Breakout. The Daily Trend was within the Prior Day' s Range ,the Bulls gained mildly towards the Close and High & Low were both within the prior Day's which signifies a Range Trading. The Price is within the MA and the Oscillators are suggesting some strength. The Hourly Trend has been in a Range Trading and the Patterns are suggesting a Choppy session until the Break, 8205/8170 are the Critical levels to watch to maintain he Bullish Outlook. The AUD is mildly strong with a limited upside Bias and the JPY is mildly strong with a Mixed Bias, so both the Crosses may drag the AUDJPY nowhere until there is a Clear Break.
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