FOREX Trading: Yen Crosses are Stretched

RELATED QUOTES

SymbolPriceChange
USDJPY=X102.3350+0.0615

The long term USDJPY inverse head and shoulders breakout the week that ended 12/14 has led to immediate gains. The traditional measuring technique yields an objective of about 9362. Currently testing upward sloping channel resistance and the 100% extension of the rally from the record low (I’m interested to see how the week closes), this would be a good time for some consolidation. 8520 is of interest as support…ESPECIALLY if on a news spike (fiscal circus anyone?).

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com To contact Jamie e-mail jsaettele@dailyfx.com.

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.2585+0.0004+0.04%
    USDSGD=X
    1.7406+0.0004+0.03%
    EURSGD=X
    2.1147+0.0009+0.04%
    GBPSGD=X
    81.3401+0.0481+0.06%
    SGDJPY=X
    6.1609-0.0018-0.03%
    SGDHKD=X
    2.6022+0.0038+0.15%
    SGDMYR=X
    9,216.1260-39.9004-0.43%
    SGDIDR=X
    4.9686+0.0017+0.03%
    SGDCNY=X
    1.1664+0.0011+0.10%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,292.10+1.50+0.12%
    GCM14.CMX
    19.59-0.10-0.50%
    SIK14.CMX
    91.62-1.25-1.35%
    ^XAU
    3.13+0.01+0.18%
    HGK14.CMX
    101.75-0.19-0.19%
    CLM14.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.74+0.03
    ^FVX
    2.690.00
    ^TNX
    3.460.00
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    2.22+0.010+0.45%
    JS8.SI
    1.165+0.015+1.30%
    U6C.SI
    0.122-0.001-0.81%
    B22.SI
    1.335-0.020-1.48%
    G13.SI
    1.205-0.010-0.82%
    S53.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.169+0.017+11.18%
    5HH.SI
    0.21+0.020+10.53%
    F86.SI
    0.116+0.010+9.43%
    O2I.SI
    0.72+0.050+7.46%
    5DP.SI
    1.315+0.084+6.82%
    O9A.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.141-0.013-8.44%
    5GD.SI
    0.151-0.009-5.63%
    A03.SI
    0.29-0.010-3.33%
    O08.SI
    0.20-0.010-4.76%
    5CH.SI
    0.30-0.015-4.76%
    K29.SI