{"id":1269,"date":"2009-04-07T11:15:33","date_gmt":"2009-04-07T16:15:33","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=1269"},"modified":"2009-04-07T11:15:33","modified_gmt":"2009-04-07T16:15:33","slug":"usdjpy-daily-commentary-for-4709","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/04\/07\/usdjpy-daily-commentary-for-4709\/","title":{"rendered":"USD\/JPY Daily Commentary for 4.7.09"},"content":{"rendered":"<p><span style=\"color: #888888;\">By <a href=\"http:\/\/www.fastbrokers.com\/index.php?PL080\" target=\"_blank\">Fast Brokers<\/a><\/span><\/p>\n<p>The USD\/JPY topped out yesterday and is reencountering the key 100 level as we anticipated.\u00a0 100 is such a critical psychological hurdle that it\u2019s no surprise the currency pair is hesitating to leave it behind.\u00a0 The BOJ kept its benchmark rate at 0.1% today with little to no wiggle room monetarily.\u00a0 However, the BOJ announced the initiation of new, vague quantitative easing tactics to try and liquefy the Yen.\u00a0 The announcement is having an inconsequential impact on the USD\/JPY and its path is still highly reliant on the performance of the two economies.\u00a0 The USD\/JPY is sticking above 100 and March highs for now, a positive sign for the uptrend.\u00a0 However, if U.S. equities should crumble under the pressure of financials, then the USD\/JPY should reluctantly exercise its positive correlation with the S&amp;P futures and follow suit.\u00a0 That being said, the fresh near-term uptrend remains intact for now as the trends approach a face-off.\u00a0 Though the U.S. won\u2019t release any significant data, Japan will announce its Current Account late Tuesday and the BOJ Monthly Report Wednesday morning, giving investors a bird\u2019s eye view of the economic data guiding the decisions of the BOJ.\u00a0 Fundamentally, we find resistances of 100.71, 101.44, 101.98, 102.50, and 103.10.\u00a0 To the downside, we see supports of 100.28, 99.79, 99.06, 98.16, and 97.59.\u00a0 The USD\/JPY is currently exchanging at 100.33.<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/4_7yen.gif\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/4_7yen.gif\" alt=\"\" width=\"595\" height=\"500\" \/><\/a><\/p>\n<p>Market Commentary provided by <a href=\"http:\/\/www.fastbrokers.com\/index.php?PL080\" target=\"_blank\"><span style=\"text-decoration: underline;\"><strong>Fast Brokers<\/strong><\/span><\/a>.<\/p>\n<p><strong>Disclaimer:<\/strong> FastBrokers\u2019 market commentary is provided for information purposes only and under no circumstances should be regardedneither 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 topped out yesterday and is reencountering the key 100 level as we anticipated.  100 is such a critical psychological hurdle&#8230;<\/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-1269","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/1269","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=1269"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/1269\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=1269"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=1269"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=1269"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}