FOREX ANALYSIS: Japanese Yen Bounce Clouds Outlook

ssi_aud-usd_body_Picture_4.png, FOREX ANALYSIS: Japanese Yen Bounce Clouds Outlook

USDJPY – Forex trading crowds have bought into a recent US Dollar (ticker: USDOLLAR) pullback against the Japanese Yen, and the modest shift in sentiment clouds our previous forecasts for USDJPY strength.

We maintain that the USDJPY set a significant bottom through September, but the build in crowd buying crowds warns against the potential for a larger short-term pullback. We remain bullish as long as the USDJPY remains above key congestion levels between ¥81.10-¥81.60.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3516+0.0031+0.23%
    USDSGD=X
    1.4510+0.0027+0.19%
    EURSGD=X
    2.0180+0.0081+0.41%
    GBPSGD=X
    88.5463+0.1221+0.14%
    SGDJPY=X
    5.7340-0.0133-0.23%
    SGDHKD=X
    2.6844-0.0062-0.23%
    SGDMYR=X
    9,588.5928-49.5342-0.51%
    SGDIDR=X
    4.5881-0.0094-0.20%
    SGDCNY=X
    1.0428+0.0009+0.08%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,201.70+8.00+0.67%
    GCM15.CMX
    15.98+0.09+0.57%
    SIK15.CMX
    71.22+0.01+0.02%
    ^XAU
    2.69-0.04-1.41%
    HGK15.CMX
    56.72-1.16-2.00%
    CLM15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.34+0.02
    ^FVX
    1.92+0.02
    ^TNX
    2.59+0.02
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.23+0.01+4.55%
    5GB.SI
    0.2950.0000.00%
    5WA.SI
    0.87-0.01-1.69%
    N21.SI
    4.35-0.06-1.36%
    Z74.SI
    1.045+0.020+1.95%
    G13.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.275+0.035+14.58%
    5TS.SI
    0.295+0.030+11.32%
    G10.SI
    0.36+0.04+10.77%
    K29.SI
    0.535+0.050+10.31%
    P9D.SI
    0.114+0.008+7.55%
    J8O.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.20-0.05-20.00%
    5WD.SI
    0.11-0.02-15.38%
    5GF.SI
    0.225-0.030-11.76%
    41H.SI
    0.181-0.017-8.59%
    40N.SI
    0.72-0.06-7.69%
    AUE.SI