FOREX Trading: EURJPY Nears Short Term Target

RELATED QUOTES

SymbolPriceChange
EURJPY=X121.0660-0.011

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.

To contact Jamie e-mail jsaettele@dailyfx.com.

Follow me on Twitter for real time updates @JamieSaettele

Subscribe to Jamie Saettele's distribution list in order to receive actionable FX trading strategy delivered to your inbox once a day.

Jamie is the author of Sentiment in the Forex Market.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...
 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.165+0.001+0.61%
    N21.SI
    0.158-0.004-2.47%
    40E.SI
    0.995-0.030-2.93%
    G13.SI
    0.375+0.010+2.74%
    5ME.SI
    0.194+0.010+5.43%
    SK3.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.38+0.09+33.33%
    BEH.SI
    0.16+0.02+14.29%
    40N.SI
    0.25+0.03+13.64%
    5UA.SI
    0.205+0.019+10.22%
    BHO.SI
    0.435+0.040+10.13%
    B58.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.265-0.095-26.39%
    BCD.SI
    0.17-0.05-24.44%
    42S.SI
    0.10-0.02-18.03%
    42U.SI
    0.10-0.02-16.67%
    UQ7.SI
    0.098-0.012-10.91%
    L02.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.4229-0.001-0.07%
    USDSGD=X
    1.5101-0.0008-0.05%
    EURSGD=X
    1.7901+0.0004+0.02%
    GBPSGD=X
    80.1470+0.024+0.03%
    SGDJPY=X
    5.4491+0.0064+0.12%
    SGDHKD=X
    3.1069+0.0014+0.05%
    SGDMYR=X
    9,337.8086+3.957+0.04%
    SGDIDR=X
    4.8318+0.0021+0.04%
    SGDCNY=X
    1.0612+0.0001+0.01%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,170.60+0.80+0.07%
    GCZ16.CMX
    17.01-0.01-0.09%
    SIZ16.CMX
    82.57-0.01-0.01%
    ^XAU
    2.620.00+0.06%
    HGZ16.CMX
    51.06+0.22+0.43%
    CLF17.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.82+0.02
    ^FVX
    2.39+0.04
    ^TNX
    3.09+0.06
    ^TYX