Members login
Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Written by article default Tuesday, 15 February 2011 07:18
EURJPY
EURJPY closed @ 11240 which was BELOW the open and breached the previous day's low. The High was 20 pips from Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Tgt 2. The Hourly Oscillators are MIXED and the Price is Within the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways Down while 11335 holds and Daily Trend is Sideways Up while 11045 holds, so expect the Price to be Choppy with a potential to Break Lower. The Daily Trend breached the Prior Day' s Low but the Bears gave up mildly towards the Close which signifies some more Weakness. 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, 11335-50 are the Critical levels to watch to maintain the Bearish Outlook. The EUR is Flat with a Limited Upside and the JPY is Flat with a potential to Turn Down, so the both the Crosses may drag the EURJPY Lower so the Bulls may have to be Sidelined,
BULLS: 11220 11170 11160 BEARS: 11300 11350 11400
Today's Strategies: SHORT near 11300 11350 with a tight stop with a 50-80 pips price target.
GBPJPY
GBPJPY closed @ 13365 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 13460 holds and Daily Trend is Sideways Up while 13120 holds, so expect the Price to be Choppy until Breakout. The Daily Trend was within the Prior Day' s Range , the Price Closed unchanged which signifies a Range Trading with some Weakness. The Price is within the MA's and the Oscillators are suggesting Mixed Signals with some Weakness. The Hourly Trend has been in a Range Trading and the Patterns are suggesting a Choppy session until the Break, 13420-60 are the Critical levels to watch to maintain he Bearish Outlook. GBP is in a Mixed Bias and the JPY is Flat with a potential to Turn Down, so both the Crosses may drag the GBPJPY Lower but Cautious approach is needed.
BULLS & BEARS : Get the full report by visiting Precise Trader for a Free Trial.
Today's Strategies: Get the full report by visiting Precise Trader for a Free Trial.
AUDJPY
AUDJPY closed @ 8355 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 Bullish but Weak and the Price is Within the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Sideways while 8300 holds and Daily Trend is also Sideways while 8200 holds, so expect the Price to be Choppy until Breakout. The Daily Trend was within the Prior Day' s Range but the Bulls gained mildly towards the Close which signifies a Range Trading until the Break. The Price is within the MA's and the Oscillators are suggesting some mild strength. The Hourly Trend has been in a Range Trading and the Patterns are suggesting a Choppy session until the Break, 8300/8280 are the Critical levels to watch to maintain he Bullish Outlook. The AUD is Flat with a Mixed Bias and the JPY is Flat with a potential to Turn Down, so both the Crosses may drag the AUDJPY nowhere until there is a Clear Break.
BULLS & BEARS : Get the full report by visiting Precise Trader for a Free Trial.
Today's Strategies: Get the full report by visiting Precise Trader for a Free Trial.