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Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)

Tue, Nov 3 2009, 06:46 GMT
by Rajoo C

Precise Trader

EURJPY

EURJPY closed @ 13335 which was ABOVE the open and was within prior day's trading range. The High was 5 pips from Precise Trader's Res Tgt 2 and the Low was PRECISELY at Precise Trader's Sup Tgt 2.   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 while 13600 holds and Daily Trend is Sideways Down while 13850 holds, so expect the price  to be Choppy until the breakout happens.  The  Price  has closed  above the Res  Zone 1 . EUR  is  Flat  with a Weak bias and JPY is Flat with a mixed  bias , so  both cross should drag  EURJPY  lower or remain quiet .  The  Hourly  has been in a Range trading and expect a choppy trading until the breakout happens on at least one of the cross ,should not trade above 13410-13600  to maintain the bearish outlook . On the 5 min is  choppy but along the gradual Down  Channel  and patterns are not clear in the near future. We have no suggestions until the breakout.

BULLS:   13215   13015          BEARS:   13415   13620    

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 @ 14810 which was BELOW 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 50 pips from Precise Trader's Sup Tgt 2.   The Hourly Oscillators are MIXED and the price is Within the MA, so CAUTIOUS  approach is needed. Hourly Trend is Sideways while 14975 holds and Daily Trend is Sideways Down while 15330 holds, so expect the price  to be Choppy until the breakout happens.  The  Price  has closed within  Zone 1 and the bulls  holding their gains mildly  towards  the  close. GBP is Flat with a Weak bias  and JPY is also Flat with a mixed bias , so  both the cross should drag  GBPJPY in the direction of the break or remain quiet .The  Hourly is in a Range trading and expect a choppy session until the breakout ,  the price should not trade above 14865-14975  to maintain the bearish outlook . On the 5 min is Choppy and  patterns are not clear in the near future. We have no suggestions until the breakout.

BULLS:   14700   14645          BEARS:   14930   15045    

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 @ 8160 which was ABOVE the open and was within prior day's trading range.  The High was 10 pips from Precise Trader's Hrly Level and the Low was 15 pips from 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 8305 holds and Daily Trend is Sideways Down while 8530 holds, so expect the price  to be Choppy with a Downside bias.   The Price has  closed  above the Res  Zone 1 . AUD  is  Flat with a Weak bias  and JPY  is Flat with a mixed  bias   , so both the cross should drag AUDJPY in the direction of the break  or remain quiet. The  Hourly  is in a Range trading  and expect a choppy session until the breakout, the price should not trade above 8225-8305  to maintain the bearish outlook. On the 5 min is Choppy  and the patterns are not clear in the near future. We have no suggestions until the breakout.

BULLS:   8030   7850          BEARS:   8225   8365    

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_031109.pdf

Published on  Tue, Nov 3 2009, 06:49 GMT