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Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Written by article default Thursday, 03 March 2011 06:23
EURJPY
EURJPY closed @ 11350 which was ABOVE the open and was within prior day's trading range. The High was 10 pips from Precise Trader's Hrly Level 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 11250 holds and Daily Trend is also Sideways while 11080 holds, so expect the Price to be Choppy until Breakout. The Daily time frame ,the Price is within the MA's , it was in a Range Trading but the Bulls gained towards the Close. The Patterns are suggesting a Range trading until the break. The Hourly time frame, the Price is within the MA's and the Oscillators are suggesting upward pressure. The Patterns are suggesting a Cautious approach is needed as it is trading at critical levels. The 15min time frame, suggests a choppy session until the break, 11300-11250 are the Critical levels to watch to maintain the Bullish Outlook. The EUR is Flat with a Mixed Bias and the JPY is Flat with a Mixed Bias, so both the Crosses may drag the EURJPY nowhere until there is a clear break. The Opening Price Principles are Mixed , so Cautious approach is needed until the Price breaks out of Zone 2 levels.
BULLS: 11280 11240 11205 BEARS: 11365 11425 11465
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
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 Tgt 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 13280 holds and Daily Trend is Sideways Up while 13070 holds, so expect the Price to be Choppy until Breakout. The Daily time frame ,the Price is within the MA's , it was in a Range Trading but the Bulls gained towards the Close. The Patterns are suggesting a Range trading until the break. The Hourly time frame, the Price is within the MA's and the Oscillators are suggesting mixed signals. The Patterns are suggesting a Cautious approach is needed as it is trading at critical levels. The 15min time frame, suggests a Choppy session until the break, 13310/13280 are the Critical levels to watch to maintain the 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. The Opening Price Principles are Mixed , so Cautious approach is needed until the Price breaks out of Zone 2 levels.
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AUDJPY
AUDJPY closed @ 8325 which was ABOVE the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Tgt 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 8250 holds and Daily Trend is also Sideways while 8185 holds, so expect the Price to be Choppy until Breakout. The Daily time frame ,the Price is within the MA's , it was in a Range Trading but the Bulls gained towards the Close. The Patterns are suggesting a Range trading until the break. The Hourly time frame, the Price is within the MA's and the Oscillators are suggesting mixed signals. The Patterns are suggesting a choppy session until the break. The 15min time frame, suggests a choppy session until the break, 8280-50 are the Critical levels to watch to maintain the Bullish 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. The Opening Price Principles are Mixed , so Cautious approach is needed until the Price breaks out of Zone 2 levels.
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