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Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Written by article default Monday, 14 March 2011 05:54
EURJPY
EURJPY closed @ 11375 which was BELOW the open and breached the previous day's low. The High was PRECISELY at Precise Trader's Res Tgt 1 and the Low was PRECISELY at Precise Trader's Sup Tgt 3. The Hourly Oscillators are Bullish and the Price is Within the MA, so the Bears have to be Sidelined. Hourly Trend is Sideways while 11245 holds and Daily Trend is Limited Up while 11185 holds, so expect the Price to be Choppy until Breakout. The Daily time frame ,the Price is above the MA's , the Bears 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 some strength. The Patterns are suggesting a choppy session until the break. The 15min time frame, suggests a choppy session until the break, 11325/11245 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: 11360 11245 11185 BEARS: 11485 11565 11625
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GBPJPY
GBPJPY closed @ 13165 which was BELOW the open and breached the previous day's low. The High was PRECISELY at Precise Trader's Res Tgt 1 and the Low was PRECISELY at Precise Trader's Critical Sup. The Hourly Oscillators are Turning Bullish and the Price is Within the MA, so the Bears have to be CAUTIOUS. Hourly Trend is Limited Down while 13290 holds and Daily Trend is Sideways while 13525 holds, so expect the Price to have a Minimum Downside and the Bears have to be Cautious. The Daily time frame ,the Price is mildly within 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 strength. The Patterns are suggesting a Choppy session until the break. The 15min time frame, suggests a choppy session until the break, 13220-90 are the Critical levels to watch to maintain the Bearish Outlook. The GBP is Flat with an Upside 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 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 5 (U Turn Zone). The Hourly Oscillators are Turning Bullish and the Price is Within the MA, so the Bears have to be CAUTIOUS. Hourly Trend is Sideways while 8365 holds and Daily Trend is also Sideways while 8460 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 and 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 some strength. The Patterns are suggesting a Range trading until the break. 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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