EURJPY

EURJPY closed @ 11555 which was ABOVE the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Tgt 2 and the Low was PRECISELY at Precise Trader's Sup Tgt 1.   The Hourly Oscillators are Turning Bearish and the Price is Mildly Below the MA, so the Bulls have to be CAUTIOUS. Hourly Trend is Sideways Down while 11625 holds and Daily Trend is Limited Down while 12050 holds, so expect the Price to be Choppy with a  potential to Break Lower.  The Daily time frame ,the Price is within the MA's , the Bulls gained  but gave up mildly towards the Close. The Patterns are suggesting a Range trading until the break. The Hourly time frame, the Price is mildly below the MA's  and  the Oscillators are suggesting a downside bias. The Patterns are suggesting lower lows are expected. The 15min time frame, suggesting lower lows are expected,11605-25  are the  Critical  levels to watch to maintain the Bearish Outlook. The EUR is weak with a downside bias and the JPY is Flat with a mixed bias, so the EUR may  drag the EURJPY lower. The  Opening Price Principles suggests that the EUR , the High may have been seen  and High-Low time  says the same message , as long as the High holds the Bears may try to push lower.


BULLS:   11470   11390   11325       BEARS:   11570   11625   11675


Today's Strategies:  SHORT near   11550   11570   with a tight stop with a 35-50 pips price target.      

GBPJPY

GBPJPY closed @ 13260 which was ABOVE the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Hrly Level and the Low was 10 pips from Precise Trader's Sup Tgt 1.   The Hourly Oscillators are MIXED and the Price is Within the MA, so CAUTIOUS  approach is needed. Hourly Trend is Sideways while 13325 holds and Daily Trend is Limited Down while 13715 holds, so expect the Price to be Choppy until Breakout.  The Daily time frame ,the Price is within the MA's ,the Bulls gained but 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 a mixed bias. The Patterns are suggesting a range trading until the break. The 15min time frame, suggesting a choppy session until the break , 13295/13325  are the Critical  levels to watch to maintain the Bearish Outlook. The GBP  is Flat  with a mixed 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 and High-Low time  does not give us good signals.


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AUDJPY

AUDJPY closed @ 8650 which was ABOVE the open and was within prior day's trading range.  The High was 5 pips from Precise Trader's Hrly Level and the Low was PRECISELY at Precise Trader's Sup Zone 1.   The Hourly Oscillators are Bearish and the Price is Below the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways Down while 8710 holds and Daily Trend is Limited Down while 8965 holds, so expect the Price to be Choppy with a  potential to Break Lower.  The Daily time frame ,the Price is within the MA's , the Bulls gave up mildly towards the Close. The Patterns are suggesting a Range trading until the break. The Hourly  time frame, the Price is below  the MA's  and  the Oscillators are suggesting a downside bias. The Patterns are suggesting lower lows are expected but the Bears need to crack 8565. The 15min time frame, suggesting lower lows are expected, 8695/8710 are the Critical  levels to watch to maintain the Bearish Outlook. The AUD is weak with a downside bias and the JPY is Flat with a mixed  bias , so the AUD may drag the AUDJPY lower. The Opening Price Principles  suggests that the AUD , the High may have been seen  and High-Low time  says the same message , as long as the High holds the Bears may try to push lower.


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Today's Strategies:   Get the full report by visiting Precise Trader for a Free Trial.