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Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)

Tue, Feb 9 2010, 06:30 GMT
by Rajoo C

Precise Trader  |  View company's profile


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Daily Reports (Trends, Precise Entry & Exit levels and Strategies) on 11 Crosses (USD Majors, USD Minors & JPY Crosses) and Spot Gold.
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EURJPY

EURJPY closed @ 12185 which was BELOW the open and was within prior day's trading range. The High was 10 pips from Precise Trader's Res Tgt 1 and the Low was 5 pips from Precise Trader's Sup Tgt 1.   The Hourly Oscillators are MIXED and the price is Below the MA, so CAUTIOUS  approach is needed. Hourly Trend is Corrective Down while 12330 holds and Daily Trend is also Corrective Down while 12580 holds, so expect the price  to be Choppy until the breakout happens.  The Daily Trend  was within the prior day's Range .The  Hourly Trend  has been in a Range Trading  with no clear signal ,12270-12330  are the critical  levels to watch to maintain the bearish outlook . On the 5 min is along the gradual Up  Channel and  the  patterns are suggesting a Choppy session until the break . The Opening price principle  are mixed so Cautious approach is needed. EUR  is marginally Strong  with a mixed bias  and JPY  Flat with a mixed bias , so  both the Cross might  lead  the  EURJPY nowhere until one of the cross breaks out of the range.

BULLS:   12185   12095   12050       BEARS:   12270   12360   

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

Aggressive Traders :  Trade @ the Bulls & Bears Levels Only               


GBPJPY

GBPJPY closed @ 13910 which was BELOW the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Tgt 1 and the Low was 25 pips from Precise Trader's Sup Tgt 2.   The Hourly Oscillators are MIXED and the price is Below the MA, so CAUTIOUS  approach is needed. Hourly Trend is Corrective Down while 14080 holds and Daily Trend is also Corrective Down while 14350 holds, so expect the price  to be Choppy until the breakout happens.  The Daily Trend  was within the prior day's Range .The  Hourly Trend  has been in a Range Trading  with no clear signal ,13995-14080  are the critical  levels to watch to maintain the bearish outlook . On the 5 min is along the gradual Up  Channel and  the  patterns are suggesting a Choppy session until the break . The Opening price principle  are mixed so Cautious approach is needed. GBP  is marginally Strong  with a mixed bias  and JPY  Flat with a mixed bias , so  both the Cross might  lead  the  GBPJPY nowhere until one of the cross breaks out of the range.

BULLS:   13880   13805   13765       BEARS:   13995   14080   14145

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

Aggressive Traders :  Trade @ the Bulls & Bears Levels Only               


AUDJPY

AUDJPY closed @ 7720 which was BELOW the open and was within prior day's trading range.  The High was PRECISELY at Precise Trader's Res Tgt 1 and the Low was PRECISELY at Precise Trader's Sup Tgt 1.   The Hourly Oscillators are MIXED and the price is Below the MA, so CAUTIOUS  approach is needed. Hourly Trend is Corrective Down while 7830 holds and Daily Trend is also Corrective Down while 8035 holds, so expect the price  to be Choppy until the breakout happens.  The Daily Trend  was within the prior day's Range .The  Hourly Trend  has been in a Range Trading  with no clear signal ,7775-7830  are the critical  levels to watch to maintain the bearish outlook . On the 5 min is along the gradual Up  Channel and  the  patterns are suggesting a Choppy session until the break . The Opening price principle  are mixed so Cautious approach is needed. AUD is marginally Strong  with a mixed bias  and JPY  Flat with a mixed bias , so  both the Cross might  lead  the  AUDJPY nowhere until one of the cross breaks out of the range.

BULLS:   7690   7610   7590       BEARS:   7805   7860   7910

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

Aggressive Traders :  Trade @ the Bulls & Bears Levels Only               

Published on  Tue, Feb 9 2010, 06:43 GMT


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