EURJPY closed @ 11200 which was BELOW the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Zone 1 and the Low was 135 pips from Precise Trader's Sup Zone 10. The Hourly Oscillators are Turning Bullish and the Price is Below the MA, so the Bears have to be CAUTIOUS. Hourly Trend is Turning Up while 11170 holds and Daily Trend is Corrective Down while 11785 holds, so expect the Price to Turn Up Soon, so the Bears may stay Sidelined and the Bulls get ready to pull the Trigger. The Daily Trend breached the Prior Day's Low but the Bears gave up more than half of their gains towards the Close. The Hourly Trend has been in a Range Trading with an Upside Bias ,11230-11170 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 that the Price may have bottomed. The Opening Price Principles suggests that EUR is very Strong and the JPY is Weak, so the both the Cross may drag the EURJPY Higher so the Bears must be Sidelined.

BULLS: 11300 11240 11170 BEARS: 11400 11485 11565

Today's Strategies: LONG near 11305 11230 with a tight stop with a 50 pips price target.

GBPJPY closed @ 12885 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 PRECISELY at Precise Trader's Critical Sup. The Hourly Oscillators are MIXED and the Price is Below the MA, so CAUTIOUS approach is needed. Hourly Trend is Corrective Down while 13105 holds and Daily Trend is also Corrective Down while 13565 holds, so expect the Price to have a Limited Downside and the Bears have to be Cautious. The Daily Trend Plunged Below the Prior Day's Low but the Bears gave up part of their gains towards the Close. The Hourly Trend has been in a Range Trading with an Upside Bias ,13065-13105 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 that the Price may bottom Soon. The Opening Price Principles suggests that GBP is Strong and the JPY is Weak, so the both the Cross may drag the GBPJPY Higher so the Bears must be Sidelined.

BULLS: 12935 12860 12775 BEARS: 13025 13105 13185

Today's Strategies: LONG near 12940 12870 with a tight stop with a 50 pips price target.

AUDJPY closed @ 7330 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 265 pips from Precise Trader's Sup Zone 10. The Hourly Oscillators are Turning Bullish and the Price is Below the MA, so the Bears have to be CAUTIOUS. Hourly Trend is Turning Up while 7310 holds and Daily Trend is Corrective Down while 8040 holds, so expect the Price to Turn Up Soon, so the Bears may stay Sidelined and the Bulls get ready to pull the Trigger. The Daily Trend Plunged Below the Prior Day's Low but the Bears were holding their gains till the Close. The Hourly Trend has been marching Higher and expect it to continue , 7415-7310 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 that the Price may have bottomed. The Opening Price Principles suggests that AUD is very Strong and the JPY is Weak, so the both the Cross may drag the AUDJPY Higher so the Bears must be Sidelined.

BULLS: 7430 7345 7305 BEARS: 7530 7660 7740

Today's Strategies: LONG near 7435 7370 with a tight stop with a 50 pips price target.

credit: forexpros