Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)

EURJPY

EURJPY closed @ 10975 which was ABOVE the open and breached the previous day's high. 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 Bullish and the Price is Above the MA, so the Bears have to be Sidelined. Hourly Trend is Sideways Up while 10910 holds and Daily Trend is Limited Down while 11335 holds, so expect the Price to be Choppy with a potential to Break Higher. The Daily Trend was within the Prior two Day's Range but the Bulls gained aggressively towards the Close. The Hourly Trend has been in a Range Trading with an Upside Bias,10925-10 are the Critical levels to watch to maintain the Bullish Outlook . On the 5 min is along the Steep Up Channel and the Patterns are suggesting Higher Highs are expected . The Opening Price Principles suggests that EUR is Flat with a Strong Bias and JPY is Weak , so both the Cross may drag the EURJPY Higher , so the Bears may have to be Sidelined until 10870-10790 levels are regained.

BULLS: 10985 10915 10835 BEARS: 11060 11140 11225

Today's Strategies: LONG near 10950 10910 with a tight stop with a 50 pips price target.

GBPJPY

GBPJPY closed @ 13295 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 2. The Hourly Oscillators are Bullish and the Price is Within the MA, so the Bears have to be Sidelined. Hourly Trend is Sideways Up while 13190 holds and Daily Trend is Sideways while 13625 holds, so expect the Price to be Choppy with a potential to Break Higher. The Daily Trend breached the Prior Day's Low but the Bulls gained aggressively towards the Close. The Hourly Trend has been in a Range Trading with an Upside Bias,13260-13190 are the Critical levels to watch to maintain the Bullish Outlook . On the 5 min is along the Steep Up Channel and the Patterns are suggesting Higher Highs are expected . The Opening Price Principles suggests that GBP is Flat with a Strong Bias and JPY is Weak , so both the Cross may drag the GBPJPY Higher , so the Bears may have to be Sidelined until 13260-13190 levels are regained.

BULLS: 13260 13190 13120 BEARS: 13425 13515 13615

Today's Strategies: LONG near 13320 13260 with a tight stop with a 50 pips price target.

AUDJPY

AUDJPY closed @ 7390 which was BELOW the open and breached the previous day's low. The High was PRECISELY at Precise Trader's Res Zone 1 and the Low was 25 pips from Precise Trader's Sup Tgt 2. The Hourly Oscillators are Turning Bullish and the Price is Below the MA, so the Bears have to be CAUTIOUS. Hourly Trend is Sideways Up while 7360 holds and Daily Trend is Sideways Down while 7815 holds, so expect the Price to be Choppy with a potential to Break Higher. The Daily Trend breached the Prior Day's Low but the Bears gave up most of their gains towards the Close. The Hourly Trend has been in a Range Trading with an Upside Bias, 7375-60 are the Critical levels to watch to maintain the Bullish Outlook . On the 5 min is along the Steep Up Channel and the Patterns are suggesting Higher Highs are expected . The Opening Price Principles suggests that AUD is Strong and JPY is Weak , so both the Cross may drag the AUDJPY Higher , so the Bears may have to be Sidelined until 7410-7350 levels are regained.

BULLS: 7410 7350 7295 BEARS: 7535 7575 7630

Today's Strategies: LONG near 7410 7350 with a tight stop with a 50 pips price target.