FOREX Trading: EURJPY Nears Short Term Target

RELATED QUOTES

SymbolPriceChange
EURJPY=X121.8415-0.879

Combine the EURUSD and USDJPY pictures, and you get quite the bearish EURJPY painting. Shorts over the last few days are in good shape but expect a market response at/near 10157. This level is defined by the 100% extension of the 10459-10217 decline and intersects channel support today. Additional levels of interest are the 38.2% retracement of the rally from 9411, at 10060 and the 161.8% extension of the mentioned bear leg at 10008. 10240 and 10280 are estimated resistance levels.

AUDUSD and NZDUSD-a first attempt to short NZDUSD was stopped at breakeven last night but both commodity crosses are showing signs of exhaustion (intraday JS Spikes) at important levels (10494 is the 100% extension of the rally from 10148 in AUDUSD and 8299 is the 9/28 JS Spike close in NZDUSD). My interest is piqued and I’ll be monitoring both pairs closely.

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Jamie is the author of Sentiment in the Forex Market.

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3435-0.0013-0.10%
    USDSGD=X
    1.5288+0.002+0.13%
    EURSGD=X
    1.9624-0.0016-0.08%
    GBPSGD=X
    79.7060-0.6747-0.84%
    SGDJPY=X
    5.7740+0.0055+0.10%
    SGDHKD=X
    2.9125+0.0245+0.85%
    SGDMYR=X
    9,821.3623+9.8545+0.10%
    SGDIDR=X
    4.8298+0.0147+0.31%
    SGDCNY=X
    1.0246-0.0016-0.15%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,280.80+14.40+1.14%
    GCM16.CMX
    17.85+0.27+1.52%
    SIN16.CMX
    86.90+3.46+4.15%
    ^XAU
    2.27+0.03+1.50%
    HGN16.CMX
    46.28+0.25+0.54%
    CLM16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.30-0.04
    ^FVX
    1.84-0.02
    ^TNX
    2.690.00
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.75-0.01-1.32%
    Y92.SI
    0.098-0.005-4.85%
    5WH.SI
    0.4550.0000.00%
    N21.SI
    0.815-0.015-1.81%
    G13.SI
    0.1020.0000.00%
    5DN.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.125+0.015+13.64%
    AZG.SI
    0.22+0.03+13.40%
    O08.SI
    0.385+0.035+10.00%
    Y45.SI
    0.295+0.025+9.26%
    I85.SI
    0.151+0.012+8.63%
    B69.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.48-0.13-21.31%
    BQP.SI
    0.285-0.045-13.64%
    B49.SI
    0.535-0.055-9.32%
    BEI.SI
    0.49-0.05-8.41%
    BMA.SI
    1.42-0.11-7.19%
    BAI.SI