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Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Written by article default Wednesday, 30 March 2011 06:14
EURJPY
EURJPY closed @ 11640 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at Precise Trader's Res Zone 5 (U Turn Zone) and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish and the Price is Above the MA, so the Bears have to be Sidelined. Hourly Trend is Sideways Up while 11535 holds and Daily Trend is also Sideways Up while 11330 holds, so expect the Price to be Choppy with a potential to Break Higher. The Daily time frame ,the Price is well above the MA's , the Bulls gained towards the Close. The Patterns are suggesting the breakout has happened , higher highs are expected. The Hourly time frame, the Price is well above the MA's and the Oscillators are suggesting an upside bias. The Patterns are suggesting higher highs are expected. The 15min time frame, suggesting that the Bulls may struggle near 11725-75 levels, 11590-35 are the Critical levels to watch to maintain the Bullish Outlook. The EUR is Flat with a mixed bias and the JPY is weak with a limited upside bias, so JPY may drag the EURJPY higher but may be limited.
BULLS: 11625 11550 11500 BEARS: 11725 11765 11825
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GBPJPY
GBPJPY closed @ 13205 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at Precise Trader's Res Zone 5 (U Turn Zone) and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish and the Price is Above the MA, so the Bears have to be Sidelined. Hourly Trend is Sideways Up while 13120 holds and Daily Trend is Turning Up while 13000 holds, so expect the Price to be Choppy with a potential to Break Higher. The Daily time frame ,the Price is mildly above the MA's ,the Bulls gained aggressively towards the Close. The Patterns are suggesting that higher highs are expected but it is approaching stiff resistance . The Hourly time frame, the Price is above the MA's and the Oscillators are suggesting an upside bias. The Patterns are suggesting higher highs are expected. The 15min time frame, suggesting that we may see a pullback soon, 13150-20 are the Critical levels to watch to maintain the Bullish Outlook. The GBP is Flat with a limited downside bias and the JPY is weak with a limited upside bias, so the JPY may drag the GBPJPY but may be limited.
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AUDJPY
AUDJPY closed @ 8485 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at Precise Trader's Res Zone 5 (U Turn Zone) and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish and the Price is Above the MA, so the Bears have to be Sidelined. Hourly Trend is Limited Up while 8460 holds and Daily Trend is also Limited Up while 8245 holds, so expect the Price to have a Minimum Upside and the Bulls have to be Cautious. The Daily time frame ,the Price is well above the MA's , the Bulls gained aggressively towards the Close. The Patterns are suggesting that the Bulls are strong but approaching stiff resistance. The Hourly time frame, the Price is well above the MA's and the Oscillators are suggesting an upside bias. The Patterns are suggesting higher highs are expected but cautious approach is needed. The 15min time frame, suggesting that bulls may struggle near 8625-8700 levels, 8460-40 are the Critical levels to watch to maintain the Bullish Outlook. The AUD is Flat with a mixed bias and the JPY is weak with a limited upside bias , so the JPY may drag the AUDJPY higher but may be limited.
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