Japanese Yen 7760 is Strong Resistance

RELATED QUOTES

SymbolPriceChange
JPYUSD=X0.00840.00

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
    1.3321-0.0004-0.03%
    USDSGD=X
    1.4458-0.0017-0.12%
    EURSGD=X
    2.0212-0.0017-0.08%
    GBPSGD=X
    89.2867+0.0672+0.08%
    SGDJPY=X
    5.8176+0.0014+0.02%
    SGDHKD=X
    2.6801-0.002-0.08%
    SGDMYR=X
    9,731.7471+13.1709+0.14%
    SGDIDR=X
    4.6609+0.0117+0.25%
    SGDCNY=X
    1.0410-0.0011-0.10%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,176.00-14.50-1.21%
    GCQ15.CMX
    15.64-0.11-0.72%
    SIK15.CMX
    69.95-0.68-0.96%
    ^XAU
    2.75+0.04+1.56%
    HGK15.CMX
    57.15-0.32-0.55%
    CLM15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.32-0.03
    ^FVX
    1.92-0.03
    ^TNX
    2.62-0.02
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.290.00-1.69%
    5WA.SI
    0.855+0.015+1.79%
    N21.SI
    0.425-0.005-1.16%
    E5H.SI
    0.235+0.010+4.44%
    5GB.SI
    1.13+0.05+5.12%
    U9E.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.215+0.015+7.50%
    D38.SI
    0.29+0.01+5.45%
    CZ4.SI
    0.405+0.020+5.19%
    TI6.SI
    1.22+0.05+4.27%
    P8A.SI
    0.205+0.010+5.13%
    MR7.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.11-0.02-15.38%
    O2I.SI
    0.107-0.014-11.57%
    5PO.SI
    0.22-0.02-8.33%
    5CF.SI
    0.26-0.02-7.14%
    F86.SI
    0.145-0.010-6.45%
    K14.SI