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Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Written by article default Thursday, 27 January 2011 04:49
EURJPY
EURJPY closed @ 11270 which was ABOVE 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 Within the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 11185 holds and Daily Trend is also Sideways while 11065 holds, so expect the Price to be Choppy until Breakout. The Daily Trend was within the Prior two Day' s Range , the price closed unchanged which signifies a Range Trading. The Price is within the MA's and the Oscillators are suggesting Mixed signals. The Hourly Trend has been in a Range Trading and the Patterns are suggesting a Choppy session until the Break, 11220-11185 are the Critical levels to watch to maintain the Bullish Outlook. The EUR is Flat with a Limited Upside Bias and the JPY is Flat with a Mixed Bias, so the both the Crosses may drag the EURJPY nowhere until there is a clear break.
BULLS: 11225 11170 11120 BEARS: 11295 11350 11415
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
GBPJPY
GBPJPY closed @ 13095 which was ABOVE the open and was within prior day's trading range. The High was 5 pips from Precise Trader's Res Tgt 2 and the Low was PRECISELY at Precise Trader's Sup Tgt 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 13010 holds and Daily Trend is also Sideways while 12835 holds, so expect the Price to be Choppy until Breakout. The Daily Trend was within the Prior Day' s Range but the Bulls gained towards the Close which signifies a Range Trading. The Price is within the MA's and the Oscillators are suggesting mild strength. The Hourly Trend has been in a Range Trading and the Patterns are suggesting a Choppy session until the break, 13040-10 are the Critical levels to watch to maintain he Bullish Outlook. The GBP is Flat with a Mixed Bias and the JPY is Flat with a Mixed Bias, so both the Crosses may drag the GBPJPY nowhere until there is a Clear Break
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AUDJPY
AUDJPY closed @ 8210 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 Turning Bearish and the Price is Within the MA, so the Bulls have to be CAUTIOUS. Hourly Trend is Sideways while 8260 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 few Day' s Range ,the Bulls gained but gave up 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's and the Oscillators are suggesting Weakness. The Hourly Trend has been in a Range Trading and the Patterns are suggesting a Choppy session until the Break, 8235-60 are the Critical levels to watch to maintain he Bearish Outlook. The AUD is Flat with a Mixed Bias and the JPY is Flat with a Mixed Bias, so both the Crosses may drag the AUDJPY nowhere until there is a clear break.
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