Japanese Yen 7760 is Strong Resistance

RELATED QUOTES

SymbolPriceChange
JPYUSD=X0.00980.00

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
    1.2505-0.0004-0.03%
    USDSGD=X
    1.7305+0.0023+0.13%
    EURSGD=X
    2.1051+0.0038+0.18%
    GBPSGD=X
    81.5402-0.1962-0.24%
    SGDJPY=X
    6.2009+0.0021+0.03%
    SGDHKD=X
    2.59180.000.00%
    SGDMYR=X
    9,141.9434-1.0742-0.01%
    SGDIDR=X
    4.9726-0.0004-0.01%
    SGDCNY=X
    1.1723+0.0004+0.03%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,301.50-2.00-0.15%
    GCM14.CMX
    19.57-0.07-0.35%
    SIK14.CMX
    90.83-1.04-1.14%
    ^XAU
    3.04+0.01+0.41%
    HGK14.CMX
    104.01+0.25+0.24%
    CLK14.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.65+0.04
    ^FVX
    2.64+0.01
    ^TNX
    3.45-0.01
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.1170.0000.00%
    B22.SI
    0.49+0.030+6.52%
    5GJ.SI
    2.26+0.080+3.67%
    5ME.SI
    2.190.0000.00%
    JS8.SI
    0.6050.0000.00%
    E5H.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.20+0.034+20.48%
    5WD.SI
    0.18+0.020+12.50%
    T16.SI
    0.215+0.015+7.50%
    5UE.SI
    0.68+0.035+5.43%
    5DP.SI
    0.18+0.008+4.65%
    5IF.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.112-0.008-6.67%
    5RC.SI
    0.19-0.010-5.00%
    567.SI
    0.22-0.010-4.35%
    D6U.SI
    0.59-0.020-3.28%
    544.SI
    0.13-0.004-2.99%
    B32.SI