Japanese Yen 7760 is Strong Resistance

RELATED QUOTES

SymbolPriceChange
JPYUSD=X0.00810.00

240 Minute Bars

eliottWaves_usd-jpy_body_usdjpy.png, Japanese Yen 7760 is Strong Resistance

Prepared by Jamie Saettele, CMT

“The drop below 7714 triggered a bearish bias in the USDJPY. Volatility has ticked higher the last few days from its lowest level in over 4 years so beware of a sharp plunge to fresh all time lows. Rallies into resistance from 7720/60 would offer short opportunities against 7830.” Initial resistance has been reached and a pop into 7760 would present a higher reward/risk ratio on the downside.

Bottom Line – sell rallies into 7760, stop 7830, target 7550

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3637-0.0054-0.39%
    USDSGD=X
    1.5082-0.0106-0.70%
    EURSGD=X
    2.1286-0.0018-0.08%
    GBPSGD=X
    90.5991+0.5692+0.63%
    SGDJPY=X
    5.6845+0.023+0.41%
    SGDHKD=X
    2.7875-0.0025-0.09%
    SGDMYR=X
    9,861.4111+16.2529+0.17%
    SGDIDR=X
    4.5537+0.0167+0.37%
    SGDCNY=X
    1.0010+0.006+0.60%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,096.00-0.40-0.04%
    GCQ15.CMX
    14.64+0.04+0.24%
    SIU15.CMX
    47.84+1.18+2.53%
    ^XAU
    2.40+0.05+2.19%
    HGU15.CMX
    48.05+0.66+1.39%
    CLU15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.59+0.02
    ^FVX
    2.25+0.02
    ^TNX
    2.96+0.02
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.595-0.025-4.03%
    N21.SI
    0.34-0.02-5.56%
    E5H.SI
    0.315+0.005+1.61%
    5WA.SI
    0.33-0.01-2.94%
    Y35.SI
    1.27-0.05-3.42%
    BS6.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.19+0.02+11.11%
    F9M.SI
    0.375+0.035+10.29%
    K1Q.SI
    0.26+0.02+8.33%
    C50.SI
    0.215+0.015+7.50%
    5OY.SI
    0.215+0.015+7.50%
    B69.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.455-0.095-17.27%
    5I3.SI
    0.255-0.045-15.00%
    Y06.SI
    0.27-0.03-11.48%
    CZ4.SI
    0.28-0.03-9.68%
    UQ4.SI
    0.26-0.03-8.77%
    PA3.SI