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Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Written by article default Thursday, 10 March 2011 06:17
EURJPY
EURJPY closed @ 11505 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 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 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, 11455-20 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: 11455 11380 11330 BEARS: 11545 11600 16665
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GBPJPY
GBPJPY closed @ 13410 which was ABOVE the open and breached the previous day's high. The High was 5 pips from Precise Trader's Res Tgt 1 and the Low was 20 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 13325 holds and Daily Trend is also Sideways while 13150 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 but may be limited. The Patterns are suggesting a Choppy session until the break. The 15min time frame, suggests a choppy session until the break, 13355-25 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 @ 8365 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 Turning Bearish and the Price is Within the MA, so the Bulls have to be CAUTIOUS. Hourly Trend is Turning Down while 8385 holds and Daily Trend is Sideways while 8175 holds, so expect the Price to Turn Down Soon, so the Bulls may stay Sidelined and the Bears get ready to pull the Trigger. The Daily time frame ,the Price is within the MA's , it was in a Range Trading but the Bulls gave up mildly 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 weakness. The Patterns are suggesting lower lows are expected. The 15min time frame, suggesting lower lows are expected, 8385/8410 are the Critical levels to watch to maintain the Bearish Outlook. The AUD is Weak and the JPY is Flat with a Mixed Bias, so the AUD may drag the AUDJPY lower. The Opening Price Principles are Mixed , so Cautious approach is needed until the Price breaks out of Zone 2 levels.
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