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Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Written by article default Friday, 11 March 2011 07:29
EURJPY
EURJPY closed @ 11450 which was BELOW the open and breached the previous day's low. The High was PRECISELY at Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Hrly Level. The Hourly Oscillators are Bearish and the Price is Within the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways while 11525 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 Bears 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 some weakness. The Patterns are suggesting a choppy session until the break. The 15min time frame, suggests a choppy session until the break, 11500-25 are the Critical levels to watch to maintain the Bearish Outlook. The EUR is Flat with a limited 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: 11380 11320 11260 BEARS: 11505 11565 11625
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
GBPJPY
GBPJPY closed @ 13325 which was BELOW the open and breached the previous day's low. The High was PRECISELY at Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Tgt 2. The Hourly Oscillators are Bearish and the Price is Within the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways while 13395 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 Bears gained towards the Close. The Patterns are suggesting a Range Trading until the Break. The Hourly time frame, the Price is mildly below the MA's and the Oscillators are suggesting some weakness. The Patterns are suggesting a Choppy session until the break. The 15min time frame, suggests a choppy session until the break, 13380-95 are the Critical levels to watch to maintain the Bearish Outlook. The GBP is Flat with a limited 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 @ 8305 which was BELOW the open and breached the previous day's low. The High was 5 pips from Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Tgt 2. The Hourly Oscillators are Bearish but Weak and the Price is Within the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Sideways while 8365 holds and Daily Trend is also Sideways while 8175 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 Bears 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 weakness. The Patterns are suggesting lower lows are expected. The 15min time frame, suggesting a choppy session until the break, 8350-65 are the Critical levels to watch to maintain the Bearish Outlook. The AUD is flat with a limited downside and the JPY is Flat with a Mixed Bias, so the 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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