{"id":10480,"date":"2010-06-23T10:16:00","date_gmt":"2010-06-23T14:16:00","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=10480"},"modified":"2010-06-23T10:16:00","modified_gmt":"2010-06-23T14:16:00","slug":"usdjpy-tries-to-avoid-retest-of-90","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/06\/23\/usdjpy-tries-to-avoid-retest-of-90\/","title":{"rendered":"USD\/JPY Tries to Avoid Retest of 90"},"content":{"rendered":"<p><strong>By Fast Brokers<\/strong> &#8211; The USD\/JPY is trying to avoid a retest of its highly psychological 90 level after the Nikkei underwent another sizable sell-off.\u00a0 Japanese bond yields hit fresh lows and are around December 2008 levels as investors head for the safety of government bonds.\u00a0 The Yen is benefitting from gradual risk aversion, a signal that some investors are losing confidence in the global economic recovery despite newfound stability in the Euro.\u00a0 Naoto Kan continues to emphasize the government\u2019s intention to reign in Japan\u2019s budget deficit, a Yen positive. Meanwhile, it will be interesting to see whether the EUR\/USD and Cable can retest and surpass monthly highs.\u00a0 If so, this could help balance the USD\/JPY and keep the currency pair above 90 due to its positive correlation with the risk trade.\u00a0 Investors will be focusing on the U.S. today with new home sales and the Fed\u2019s monthly monetary policy decision on the way.\u00a0 Japan will dot the data wire tomorrow with its trade balance, though psychological forces from the West will likely drive markets through the end of the week.<\/p>\n<p>Technically speaking, the USD\/JPY faces multiple downtrend lines along with 6\/21 and 6\/16 highs.\u00a0 As for the downside, the USD\/JPY has technical supports in the form of multiple uptrend lines along with intraday and 5\/26 lows.\u00a0 Additionally, the highly psychological 90 level should serve as a solid technical support should it be tested.<\/p>\n<p>Present Price: 90.47<br \/>\nResistances: 90.50, 90.63, 90.74, 90.86, 91, 91.13, 91.34., 91.48<br \/>\nSupports:\u00a0\u00a0 90.31, 90.20, 90.05, 89.90, 89.77, 89.55, 89.35<br \/>\nPsychological:\u00a0 .90, .92, June highs and lows<\/p>\n<p><a href=\"http:\/\/www.fastbrokers.com\/commentary\/image\/June23Yen.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.fastbrokers.com\/commentary\/image\/June23Yen.png\" alt=\"\" width=\"595\" height=\"400\" \/><\/a><\/p>\n<p>(click chart to enlarge)<\/p>\n<p><em><strong>Market Commentary<\/strong><\/em> provided by <strong><a href=\"http:\/\/fastbrokers.com\/index.php?9f9043f9\" target=\"_blank\">Fast                                         Brokers.<\/a><\/strong><\/p>\n<p><strong>Disclaimer:<\/strong> FastBrokers\u2019 market commentary is                                         provided for information purposes only    and       under    no               circumstances        should           be    regarded     neither   as  an       investment        advice  nor   as a               solicitation     or      an    offer     to  sell\/buy       any           financial  product.          FastBrokers      assumes        no                 responsibility   or  liability     from  gains   or            losses         incurred by      the             information   herein         contained.<\/p>\n<p><strong>Risk Disclosure:<\/strong> There is a substantial risk of loss                                         in trading futures and foreign         exchange.        Please           carefully        review     all             risk   disclosure      documents    before        opening an        account         as   these           financial       instruments   are      not         appropriate      for all          investors.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Fast Brokers &#8211; The USD\/JPY is trying to avoid a retest of its highly psychological 90 level after the Nikkei underwent another sizable sell-off.\u00a0 Japanese bond yields hit fresh lows and are around December 2008 levels as investors head for the safety of government bonds.\u00a0 The Yen is benefitting from gradual risk aversion, a &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/06\/23\/usdjpy-tries-to-avoid-retest-of-90\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;USD\/JPY Tries to Avoid Retest of 90&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-10480","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/10480","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=10480"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/10480\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=10480"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=10480"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=10480"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}