{"id":11190,"date":"2010-07-19T15:54:20","date_gmt":"2010-07-19T19:54:20","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=11190"},"modified":"2010-07-19T15:54:20","modified_gmt":"2010-07-19T19:54:20","slug":"usdjpy-tries-to-regain-footing-following-last-weeks-collapse","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/07\/19\/usdjpy-tries-to-regain-footing-following-last-weeks-collapse\/","title":{"rendered":"USD\/JPY tries to regain footing following last weeks collapse"},"content":{"rendered":"<p><strong>By Fast Brokers <\/strong>&#8211; The USD\/JPY is giving back some intraday gains as the currency pair tries to regain its footing following last week\u2019s hefty pullback.\u00a0 Investors rushed towards the yen in reaction to a wave of negative U.S. data.\u00a0 The yen has flexed its muscles as a safe haven once again as the USD\/JPY sinks towards 2009 lows.\u00a0 Meanwhile, investors are awaiting more budget plans from Japan\u2019s government regarding how to reign in the nation\u2019s huge budget deficit.\u00a0 Meanwhile, if the USD\/JPY continues to decline then it wouldn\u2019t be surprising to see the BoJ step in with some form of verbal intervention to prevent the yen from rising too fast, particularly if the currency pair tests 2009 lows.\u00a0 Speaking of which, the BoJ will be releasing its monetary policy meeting minutes tomorrow and it will be interesting to see how the central bank addresses recent strength in the yen.\u00a0 Investors will also be digesting U.S. building permits data and more signals of a slowdown in U.S. housing could weigh on the USD\/JPY.<\/p>\n<p>Technically speaking, the USD\/JPY has technical supports in the form of intraday and 11\/30\/09 lows.\u00a0 Additionally, the psychological 85 level could serve as a solid cushion should it be tested.\u00a0 As for the topside, the USD\/JPY faces technical barriers in the form of intraday highs.<br \/>\nPresent Price: 86.70<br \/>\nResistances: 86.82, 86.98, 87.11, 87.23, 87.36, 87.49<br \/>\nSupports:\u00a0\u00a0 86.58, 86.46, 86.26, 86.12, 86.01, 85.87<br \/>\nPsychological:\u00a0 85, 90, November 2009 lows<\/p>\n<p><a href=\"http:\/\/www.fastbrokers.com\/commentary\/image\/July19Yen.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.fastbrokers.com\/commentary\/image\/July19Yen.png\" alt=\"\" width=\"595\" height=\"400\" \/><\/a><\/p>\n<div>\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<\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Fast Brokers &#8211; The USD\/JPY is giving back some intraday gains as the currency pair tries to regain its footing following last week\u2019s hefty pullback.\u00a0 Investors rushed towards the yen in reaction to a wave of negative U.S. data.\u00a0 The yen has flexed its muscles as a safe haven once again as the USD\/JPY &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/07\/19\/usdjpy-tries-to-regain-footing-following-last-weeks-collapse\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;USD\/JPY tries to regain footing following last weeks collapse&#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-11190","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/11190","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=11190"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/11190\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=11190"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=11190"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=11190"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}