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Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)

Wed, Jul 1 2009, 06:20 GMT
by Rajoo C

Precise Trader


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Daily Reports (Trends, Precise Entry & Exit levels and Strategies) on 9 Crosses- USD Majors, USD Minors & JPY Crosses.

EURJPY  

EURJPY held precisely the level we suggested ,moved higher and closed @ 13525 which was unchanged.  The Hourly Oscillators are bullish and price is above the MA, so the bears have to be Sidelined. Hourly Trend is Sideways and Daily Trend is also Sideways, so expect the price to be choppy.  The patterns on the 5 min chart is very noisy and we have no suggestions until there is a breakout.  We prefer to be Sidelined until the breakout happens or strictly trade at only our levels.

GBPJPY  

GBPJPY held at the level we suggested and closed @ 15865 which was below the open.  The Hourly Oscillators are mixed and the price is above the MA, so cautious approach is needed. Hourly Trend is Sideways and Daily Trend is also Sideways, so expect the price to be choppy.  The patterns are not clear and very noisy and we have no suggestions until there is a clear break.  We prefer to sidelined until there is a breakout or strictly trade only at our levels.

AUDJPY  

AUDJPY breached the prior day's high but gave up towards the end and closed @ 7770 which was marginally above the open.  The Hourly Oscillators are mixed and price is above the MA, so Cautious approach is needed. Hourly Trend is Sideways and Daily Trend is also Sideways, expect the price to be choppy.  The patterns are not clear and we have no suggestions until there is a breakout.  We prefer to Sidelined until there is a clear break or strictly trade only at our levels.

Published on  Wed, Jul 1 2009, 06:22 GMT


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