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Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Written by article default Wednesday, 09 March 2011 07:11
EURJPY
EURJPY closed @ 11495 which was UNCHANGED from 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 11420 holds and Daily Trend is Limited Up while 11200 holds, so expect the Price to be Choppy until Breakout. The Daily time frame ,the Price is above the MA's , the Price closed unchanged. The Patterns are suggesting that the high may be seen soon. 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, 11445-20 are the Critical levels to watch to maintain the Bullish Outlook. The EUR is Flat with a Downside 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: 11455 11380 11330 BEARS: 11530 11600 16665
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
GBPJPY
GBPJPY closed @ 13360 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 10 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 13290 holds and Daily Trend is Sideways Up while 13110 holds, so expect the Price to be Choppy until Breakout. The Daily time frame ,the Price is mildly above the MA's ,the Bulls gained towards the Close. The Patterns are suggesting a Range Trading until the Break. The Hourly time frame, the Price is mildly above the MA's and the Oscillators are suggesting some strength. The Patterns are suggesting a Choppy session until the break. The 15min time frame, suggests a choppy session until the break, 13305/13290 are the Critical levels to watch to maintain the Bullish Outlook. The GBP is Flat with a downside 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 @ 8350 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 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 8285 holds and Daily Trend is also Sideways while 8145 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 slight strength. The Patterns are suggesting a choppy session until the break. The 15min time frame, suggesting a choppy session until the break, 8305/8285 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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