Members login
Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Written by article default Friday, 18 March 2011 07:00
EURJPY
EURJPY closed @ 11065 which was UNCHANGED from the open and was within prior day's trading range. The High was 5 pips from 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 Above the MA, so the Bears have to be Sidelined. Hourly Trend is Up while 11360 holds and Daily Trend is Turning Up while 10685 holds, so expect the Price to make Higher Highs and the Bears have to Sidelined. The Daily time frame ,the Price is below the MA's , the Bears gave up all their gains towards the close. The Patterns are suggesting the low may been seen , the intervention caused a huge rally. The Hourly time frame, the Price is well above the MA's and the Oscillators are suggesting more strength but be weary of some retracement. The Patterns are suggesting higher highs are expected. The 15min time frame, suggests some pullback may be seen soon, 11430/11360 are the Critical levels to watch to maintain the Bullish Outlook. The EUR is strong with a limited upside and the JPY is very weak because of the intervention, so both the Crosses may drag the EURJPY higher but cautious approach is needed.
BULLS: 11360 11250 11175 BEARS: 11540 11600 11680
Today's Strategies: LONG near 11430 11360 with a tight stop with a 50-80 pips price target.
GBPJPY
GBPJPY closed @ 12730 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 3. The Hourly Oscillators are Bullish and the Price is Above the MA, so the Bears have to be Sidelined. Hourly Trend is Up while 12900 holds and Daily Trend is Turning Up while 12245 holds, so expect the Price to make Higher Highs and the Bears have to Sidelined. The Daily time frame ,the Price is below the MA's ,the Bears gave up all their gains towards the Close. The Patterns are suggesting the Low may been seen, the intervention caused a huge rally. The Hourly time frame, the Price is well above the MA's and the Oscillators are suggesting bullish but be weary of some pullback. The Patterns are suggesting higher highs are expected but cautious approach is needed. The 15min time frame, suggests a choppy session and we may see a pullback, 13050/12900 are the Critical levels to watch to maintain the Bullish Outlook. The GBP is Flat with a mixed bias and the JPY is very Weak , so both the Crosses may drag the GBPJPY higher but cautious approach is needed.
BULLS & BEARS : Get the full report by visiting Precise Trader for a Free Trial.
Today's Strategies: Get the full report by visiting Precise Trader for a Free Trial.
AUDJPY
AUDJPY closed @ 7735 which was BELOW the open and breached the previous day's low. The High was 15 pips from Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Tgt 3. The Hourly Oscillators are Bullish and the Price is Above the MA, so the Bears have to be Sidelined. Hourly Trend is Up while 7945 holds and Daily Trend is Turning Up while 7460 holds, so expect the Price to make Higher Highs and the Bears have to Sidelined. The Daily time frame ,the Price is well below the MA's , the Bears gave up most of their gains towards the close. The Patterns are suggesting that the low may been seen, the intervention caused a huge rally. The Hourly time frame, the Price is above the MA's and the Oscillators are suggesting more strength but may be limited. The Patterns are suggesting higher highs are expected but be weary of pullback. The 15min time frame, suggesting a choppy session with some pullback is expected soon, 8050/7945 are the Critical levels to watch to maintain the Bullish Outlook. The AUD is very strong and the JPY is very weak, so the both the crosses may drag the AUDJPY higher but we may see a pullback soon, so cautious approach is needed.
BULLS & BEARS : Get the full report by visiting Precise Trader for a Free Trial.
Today's Strategies: Get the full report by visiting Precise Trader for a Free Trial.