Japanese Yen 7760 is Strong Resistance

RELATED QUOTES

SymbolPriceChange
JPYUSD=X0.00830.00

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
    1.3635-0.002-0.14%
    USDSGD=X
    1.5250-0.002-0.13%
    EURSGD=X
    2.0952-0.0024-0.11%
    GBPSGD=X
    87.8731-0.1203-0.14%
    SGDJPY=X
    5.6874+0.0079+0.14%
    SGDHKD=X
    2.6601+0.0009+0.03%
    SGDMYR=X
    9,510.4521-6.9512-0.07%
    SGDIDR=X
    4.6012+0.0071+0.16%
    SGDCNY=X
    1.0661+0.0065+0.61%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,220.00+6.90+0.57%
    GCJ15.CMX
    16.74+0.18+1.10%
    SIK15.CMX
    75.26-1.68-2.18%
    ^XAU
    2.71+0.02+0.65%
    HGK15.CMX
    49.23-0.53-1.07%
    CLJ15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.58+0.07
    ^FVX
    2.08+0.08
    ^TNX
    2.68+0.09
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.42+0.02+5.00%
    E5H.SI
    100.012-0.0020.00%
    41H.SI
    1.005+0.060+6.35%
    N21.SI
    0.055-0.062-52.99%
    F3V.SI
    1.242-0.011-0.88%
    41I.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.215+0.025+13.16%
    5RE.SI
    0.138+0.018+15.00%
    5WG.SI
    0.18+0.02+12.50%
    PH0.SI
    0.166+0.020+13.70%
    5OU.SI
    0.18+0.01+7.78%
    T19.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.055-0.062-52.99%
    F3V.SI
    0.19-0.06-22.45%
    5TS.SI
    0.35-0.03-9.09%
    QS9.SI
    0.157-0.018-10.29%
    K6J.SI
    0.141-0.019-11.87%
    C3T.SI