{"id":1432,"date":"2009-04-16T09:36:41","date_gmt":"2009-04-16T14:36:41","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=1432"},"modified":"2009-04-16T09:36:41","modified_gmt":"2009-04-16T14:36:41","slug":"usdjpy-daily-commentary-for-41609","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/04\/16\/usdjpy-daily-commentary-for-41609\/","title":{"rendered":"USD\/JPY Daily Commentary for 4.16.09"},"content":{"rendered":"<p><span style=\"color: #888888;\">By Fast Brokers<\/span><\/p>\n<p>The USD\/JPY continued its slight selloff despite a late session rally in U.S. equities.\u00a0 We still don\u2019t feel the present pullback in the USD\/JPY is backbreaking, yet.\u00a0 The currency pair has our 2nd tier uptrend line to rely on for the time being.\u00a0 However, as we stated before, the uptrend is extremely young compared to the downtrend, giving the downside precedence.\u00a0 On the other hand, everybody knew the crucial 100 level would be a tedious obstacle to overcome.\u00a0 We continue to witness a battle of the economies.\u00a0 The Japanese economy deteriorated to such a point that the Yen lost its luster as a safe haven.\u00a0 Then again, the Dollar has joined the party via quantitative easing, resulting in overall weakness against other major Dollar pairs and in succession stalling a possible breakout in the USD\/JPY.\u00a0 Regardless, the USD\/JPY should yield to its positive correlation with U.S. equities should the S&amp;P futures have a breakout of their own past February highs.\u00a0 The economic data from the U.S. is mixed while Japanese data remains highly negative for the most part.\u00a0 Therefore, there are more than enough reasons to believe the uptrend in the USD\/JPY can hold itself together.\u00a0 On the other hand, we\u2019ve still got those three downtrend lines bearing down on price.\u00a0 Fundamentally, our 99.79 support turns resistance while we maintain our resistances of 100.28, 100.71, 101.44, and 101.98.\u00a0 To the downside, we hold our supports of 99.06, 98.16, 97.59, and 97.11 with fresh bottom-end of 96.33.\u00a0 The USD\/JPY is currently exchanging at 98.99.<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/4_16yen.gif\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/4_16yen.gif\" alt=\"\" width=\"595\" height=\"500\" \/><\/a><\/p>\n<p><em><strong>Market Commentary<\/strong><\/em> 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 continued its slight selloff despite a late session rally in U.S. equities.  We still don\u2019t feel the present pullback&#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-1432","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/1432","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=1432"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/1432\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=1432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=1432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=1432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}