Members login
Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Written by article default Tuesday, 05 April 2011 06:12
EURJPY
EURJPY closed @ 11955 which was UNCHANGED from the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Tgt 1 and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Bearish but Weak and the Price is Mildly Above the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Limited Up while 11905 holds and Daily Trend is also Limited Up while 11675 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 Bears gained mildly towards the Close. The Patterns are suggesting the Bulls are losing steam and approaching price target. The Hourly time frame, the Price is mildly above the MA's and the Oscillators are suggesting a limited upside bias. The Patterns are suggesting a range trading with a potential to turn down soon. The 15min time frame, suggesting a choppy session and the break of 11925-05 is needed for the Bears,11905/11880 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 potential to turn down soon, so JPY & EUR may drag the EURJPY nowhere until there is a clear signal from one of the Cross.
BULLS: 11945 11905 11860 BEARS: 12035 12075 12125
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
GBPJPY
GBPJPY closed @ 13560 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 Zone 1. The Hourly Oscillators are Bearish but Weak and the Price is Above the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Limited Up while 13510 holds and Daily Trend is also Limited Up while 13215 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 Price closed unchanged. The Patterns are suggesting that the Bulls are still strong but approaching price target . The Hourly time frame, the Price is above the MA's and the Oscillators are suggesting a limited upside bias. The Patterns are suggesting a range trading with a potential to turn down. The 15min time frame, suggesting a choppy session until the break but the upside may be limited, 13525-10 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 limited upside bias, so the JPY may drag the GBPJPY higher but may be limited.
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 @ 8710 which was BELOW the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Tgt 1 and the Low was PRECISELY at Precise Trader's Hrly Level. The Hourly Oscillators are Bearish and the Price is Mildly Above the MA, so the Bulls have to be Sidelined. Hourly Trend is Turning Down while 8775 holds and Daily Trend is Limited Up while 8415 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 well above the MA's , the Bears gained mildly towards the close. The Patterns are suggesting that the Bulls are losing steam and approaching price target. The Hourly time frame, the Price is mildly above the MA's and the Oscillators are suggesting a limited Upside bias. The Patterns are suggesting a range trading with a potential to turn down soon . The 15min time frame, suggesting a choppy session until the break but the Bears need to crack the 8665 level, 8755-75 are the Critical levels to watch to maintain the Bearish Outlook. The AUD is mildly Weak with a potential to Turn down and the JPY is Flat with a limited upside bias , so both the Cross may drag the AUDJPY lower once the AUD or JPY reverses.
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.