FOREX Trading: EURJPY Nears Short Term Target

RELATED QUOTES

SymbolPriceChange
EURJPY=X122.5262-0.05

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
    1.3799+0.0005+0.03%
    USDSGD=X
    1.5338+0.0005+0.03%
    EURSGD=X
    2.0177+0.0007+0.03%
    GBPSGD=X
    79.8826-0.0587-0.07%
    SGDJPY=X
    5.6286-0.0018-0.03%
    SGDHKD=X
    2.9651-0.0002-0.01%
    SGDMYR=X
    9,841.6572-3.2139-0.03%
    SGDIDR=X
    4.7582-0.0015-0.03%
    SGDCNY=X
    0.9915+0.0003+0.03%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,215.30-7.40-0.61%
    GCQ16.CMX
    16.25-0.09-0.57%
    SIN16.CMX
    79.41-2.71-3.31%
    ^XAU
    2.11+0.01+0.40%
    HGN16.CMX
    49.56+0.08+0.16%
    CLN16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.39+0.04
    ^FVX
    1.85+0.03
    ^TNX
    2.65+0.02
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.305-0.005-1.61%
    N21.SI
    0.895+0.010+1.13%
    Y92.SI
    0.735+0.025+3.52%
    G13.SI
    3.93+0.07+1.81%
    Z74.SI
    1.0050.0000.00%
    C22.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.245+0.030+13.95%
    F86.SI
    0.255+0.025+10.87%
    PA3.SI
    0.275+0.025+10.00%
    K29.SI
    0.335+0.030+9.84%
    F03.SI
    0.62+0.05+7.83%
    BMA.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.405-0.120-22.86%
    AWE.SI
    0.22-0.04-15.38%
    BKZ.SI
    0.55-0.10-15.38%
    N0Z.SI
    0.455-0.075-14.15%
    BJE.SI
    0.145-0.019-11.59%
    5G1.SI