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Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)

Fri, Nov 20 2009, 06:13 GMT
by Rajoo C

Precise Trader

EURJPY

EURJPY closed @ 13285 which was BELOW the open and was within prior day's trading range. The High was 10 pips from Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Tgt 3.   The Hourly Oscillators are MIXED and the price is Below the MA, so CAUTIOUS  approach is needed. Hourly Trend is Sideways while 13125 holds and Daily Trend is also Sideways while 13585 holds, so expect the price  to be Choppy until the breakout happens.  The  Price  has closed below the Sup  Zone 1  and the  bears  were strong but gave up mildly towards the close . EUR  is Flat with a mixed bias and JPY is also  Flat with a mixed bias , so both the cross should  lead  the  EURJPY  nowhere until the breakout happens on one of the cross .  The  Hourly  trend is  in a Range Trading and expect a choppy session until the breakout, the price should not trade below 13225-13125   to maintain the bullish outlook . On the 5 min is long the Up Channel  and patterns are  suggesting no clear direction in the near future.

BULLS:   13230   13175          BEARS:   13325   13375   

Conservative Traders:  SIDELINED or strictly trade only at Precise Trader's Report Levels.               

Aggressive Traders :  SIDELINED or strictly trade only at Precise Trader's Report Levels.               

GBPJPY

GBPJPY closed @ 14830 which was BELOW the open and breached the previous day's low. The High was 20 pips from Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Tgt 3.   The Hourly Oscillators are MIXED and the price is Below the MA, so CAUTIOUS  approach is needed. Hourly Trend is Sideways while 14685 holds and Daily Trend is also Sideways while 15250 holds, so expect the price  to be Choppy until the breakout happens.  The  Price  has closed below the Sup  Zone 1  and the  bears  were strong but gave up mildly towards the close . GBP  is Flat with a mixed bias and JPY is also  Flat with a mixed bias , so both the cross should  lead  the  GBPJPY  nowhere until the breakout happens on one of the cross .  The  Hourly  trend is  in a Range Trading and expect a choppy session until the breakout, the price should not trade below 14760-14685  to maintain the bullish outlook . On the 5 min is long the Up Channel  and patterns are  suggesting no clear direction in the near future.

BULLS:   14765   14675          BEARS:   14865   14965   

Conservative Traders:  SIDELINED or strictly trade only at Precise Trader's Report Levels.               

Aggressive Traders :  SIDELINED or strictly trade only at Precise Trader's Report Levels.               

AUDJPY

AUDJPY closed @ 8170 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 10 pips from Precise Trader's Critical Sup.   The Hourly Oscillators are MIXED and the price is Below the MA, so CAUTIOUS  approach is needed. Hourly Trend is Sideways while 8045 holds and Daily Trend is also Sideways while 8460 holds, so expect the price  to be Choppy until the breakout happens.  The Price  has closed below the Sup U Turn  Zone 5 and the  bears  were very strong but gave up mildly towards the close . AUD  is Flat with a mixed bias and JPY is also  Flat with a mixed bias , so both the cross should  lead  the  AUDJPY  nowhere until the breakout happens on one of the cross .  The  Hourly  trend is  in a Range Trading and expect a choppy session until the breakout, the price should not trade below 8120-8045  to maintain the bullish outlook . On the 5 min is long the Up Channel  and patterns are  suggesting no clear direction in the near future.

BULLS:   8135   8090          BEARS:   8215   8290   

Conservative Traders:  SIDELINED or strictly trade only at Precise Trader's Report Levels.               

Aggressive Traders :  SIDELINED or strictly trade only at Precise Trader's Report Levels.               

• WebFX3_201109.pdf

Published on  Fri, Nov 20 2009, 06:13 GMT

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