FOREX Trading: EURJPY Nears Short Term Target

RELATED QUOTES

SymbolPriceChange
EURJPY=X129.9910+0.5593

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
    1.3967-0.0095-0.68%
    USDSGD=X
    1.5769+0.0023+0.15%
    EURSGD=X
    2.0211-0.0076-0.37%
    GBPSGD=X
    82.4265+0.2255+0.27%
    SGDJPY=X
    5.5832+0.0424+0.77%
    SGDHKD=X
    2.9873+0.0088+0.29%
    SGDMYR=X
    9,730.0869-19.2529-0.20%
    SGDIDR=X
    4.7055+0.0305+0.65%
    SGDCNY=X
    0.9879-0.0079-0.80%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,189.40-8.50-0.71%
    GCJ16.CMX
    15.25-0.18-1.14%
    SIH16.CMX
    54.34-2.43-4.28%
    ^XAU
    2.04-0.05-2.44%
    HGH16.CMX
    28.35-1.34-4.51%
    CLH16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.150.00
    ^FVX
    1.73-0.01
    ^TNX
    2.55-0.01
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.33+0.02+4.76%
    N21.SI
    3.70+0.22+6.32%
    Z74.SI
    1.68+0.05+3.07%
    MC0.SI
    0.385+0.010+2.67%
    E5H.SI
    0.705+0.025+3.68%
    G13.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.405+0.065+19.12%
    T4B.SI
    0.475+0.075+18.75%
    Y06.SI
    0.23+0.03+15.00%
    S9B.SI
    0.40+0.05+14.29%
    BJE.SI
    0.144+0.014+10.77%
    AWS.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.34-0.05-12.82%
    MN5.SI
    0.118-0.012-9.23%
    AWO.SI
    0.205-0.020-8.89%
    AYL.SI
    0.505-0.045-8.18%
    A05.SI
    0.193-0.017-8.10%
    S71.SI