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
    1.3505-0.0029-0.22%
    USDSGD=X
    1.4947-0.0008-0.05%
    EURSGD=X
    1.7793-0.0074-0.41%
    GBPSGD=X
    77.5480-0.235-0.30%
    SGDJPY=X
    5.7416+0.0122+0.21%
    SGDHKD=X
    3.0013-0.0115-0.38%
    SGDMYR=X
    9,692.4043-22.8154-0.23%
    SGDIDR=X
    4.9324+0.0051+0.10%
    SGDCNY=X
    1.0163+0.003+0.30%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,338.00+11.30+0.85%
    GCQ16.CMX
    20.33+0.33+1.65%
    SIU16.CMX
    107.59+4.59+4.46%
    ^XAU
    2.21+0.03+1.14%
    HGU16.CMX
    42.09+0.17+0.41%
    CLU16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.10-0.04
    ^FVX
    1.51-0.05
    ^TNX
    2.23-0.05
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.365-0.010-2.67%
    E5H.SI
    0.585-0.015-2.50%
    Z59.SI
    0.490.00+1.03%
    5TP.SI
    4.27-0.04-0.93%
    Z74.SI
    0.335-0.010-2.90%
    5ME.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.22+0.02+7.32%
    B7K.SI
    0.205+0.011+5.67%
    S9B.SI
    3.56+0.16+4.71%
    H15.SI
    0.595+0.025+4.39%
    AZA.SI
    0.167+0.007+4.37%
    42N.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.21-0.07-25.00%
    BQN.SI
    0.103-0.030-22.56%
    BEZ.SI
    0.116-0.020-14.71%
    Y06.SI
    0.12-0.01-7.69%
    T13.SI
    0.30-0.03-10.45%
    BBP.SI