Japanese Yen 7760 is Strong Resistance

RELATED QUOTES

SymbolPriceChange
JPYUSD=X0.00820.00

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
    1.3418+0.0046+0.34%
    USDSGD=X
    1.4735+0.0056+0.38%
    EURSGD=X
    2.0782+0.0094+0.45%
    GBPSGD=X
    90.6015-0.2937-0.32%
    SGDJPY=X
    5.7767-0.0205-0.35%
    SGDHKD=X
    2.6924-0.0013-0.05%
    SGDMYR=X
    9,822.5840-12.9023-0.13%
    SGDIDR=X
    4.6240-0.0112-0.24%
    SGDCNY=X
    1.0513+0.0065+0.62%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,204.00+1.30+0.11%
    GCM15.CMX
    17.03-0.04-0.21%
    SIM15.CMX
    71.25-0.60-0.84%
    ^XAU
    2.81-0.04-1.39%
    HGN15.CMX
    61.30-0.70-1.13%
    CLZ15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.56+0.05
    ^FVX
    2.21+0.03
    ^TNX
    2.99+0.01
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.335+0.040+13.56%
    AFC.SI
    0.139+0.004+2.96%
    5MM.SI
    0.290.000.00%
    5WA.SI
    0.26+0.02+8.33%
    B0Z.SI
    0.21-0.01-2.33%
    5GB.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.325+0.055+20.37%
    AYL.SI
    0.15+0.02+15.38%
    5OY.SI
    0.60+0.08+14.29%
    AXC.SI
    0.335+0.040+13.56%
    AFC.SI
    1.53+0.18+13.33%
    AYN.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.19-0.06-24.00%
    41H.SI
    0.225-0.070-23.73%
    AWJ.SI
    0.21-0.06-22.22%
    AVX.SI
    0.25-0.04-13.79%
    E94.SI
    0.119-0.016-11.85%
    5IF.SI