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Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)

Fri, Oct 30 2009, 06:56 GMT
by Rajoo C

Precise Trader

EURJPY

EURJPY closed @ 13555 which was ABOVE the open and was within prior day's trading range. The High was 40 pips from Precise Trader's Res Tgt 3 and the Low was PRECISELY at Precise Trader's Sup Tgt 1.   The Hourly Oscillators are Bullish but Weak and the price is Within the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Sideways Up while 13445 holds and Daily Trend is also Sideways Up while 13105 holds, so expect the price to be Choppy and Upside may be limited.  The Price is trading Above the Monthly, but below the Weekly open and closed well above the Res U Turn Zone 5. EUR is Flat with a mixed bias and JPY is also Flat with a mixed bias , so both cross should drag EURJPY in the direction of the break. The Hourly is in a Range trading with a potential to reverse near 13605- 3730 levels ,should not trade below 13485-45 to maintain the bullish outlook . On the 5 min is along the Horizontal Channel and patterns are not clear in the near future. Coming to last trading day of the month Cautious approach is needed.  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 @ 15130 which was ABOVE the open and breached the previous day's high. The High was 40 pips from Precise Trader's Res Tgt 3 and the Low was 20 pips from Precise Trader's Sup Tgt 2.   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 Sideways Up while 14955 holds and Daily Trend is also Sideways Up while 14540 holds, so expect the price to be Choppy and Upside may be limited.  The Price is trading Above the Monthly, Weekly open ,closed well above the Res U Turn Zone 5 and the bulls were exceptionally strong and holding their gains towards the close. GBP is Flat with a mixed bias and JPY is also Flat with a mixed bias , so both the cross should drag GBPJPY in the direction of the break .The Hourly is in a Range trading with the price to struggle near 15205 level, the price should not trade below 15005-14955 to maintain the bullish outlook . On the 5 min is along the Horizontal Channel and patterns are not clear in the near future. Coming to last trading day of the month Cautious approach is needed.  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 @ 8365 which was ABOVE the open and was within prior day's trading range. The High was 10 pips from Precise Trader's Res Zone 10 and the Low was PRECISELY at Precise Trader's Sup Tgt 1.   The Hourly Oscillators are Bullish but Weak and the price is Within the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Sideways Up while 8250 holds and Daily Trend is also Sideways Up while 7825 holds, so expect the price to be Choppy and Upside may be limited.  The Price is trading Above Monthly, but below the Weekly open , closed well above the Res U Turn Zone 5. AUD is Flat with a mixed bias and JPY is also Flat with a mixed bias , so both the cross should drag AUDJPY in the direction of the break .The Hourly is in a Range trading expect the price to stall near 8435-80 levels , the price should not trade below 8300-8250 to maintain the bullish outlook. On the 5 min is along the Horizontal Channel and the patterns are not clear in the near future. Coming to last trading day of the month Cautious approach is needed.  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_301009.pdf

Published on  Fri, Oct 30 2009, 06:57 GMT