{"id":1473,"date":"2009-04-20T14:32:36","date_gmt":"2009-04-20T19:32:36","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=1473"},"modified":"2009-04-20T14:32:36","modified_gmt":"2009-04-20T19:32:36","slug":"usdjpy-daily-commentary-for-42009","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/04\/20\/usdjpy-daily-commentary-for-42009\/","title":{"rendered":"USD\/JPY Daily Commentary for 4.20.09"},"content":{"rendered":"<p><span style=\"color: #888888;\">By Fast Brokers<\/span><\/p>\n<p>The Yen is strengthening slightly against the Dollar again, but the USD\/JPY is presently finding strength in our 1st tier uptrend line.\u00a0 Weakness in the USD\/JPY reflects the selloff taking place on Wall Street premarket Monday morning.\u00a0 With the bad news from Japan out of the way, the focus turns towards U.S. equities and corporate earnings, so the USD\/JPY should exhibit a positive correlation with the S&amp;P futures for the time being.\u00a0 As we stated previously, the USD\/JPY\u2019s uptrend is young and fragile.\u00a0 Therefore, the uptrend lines for the currency pair to fall back on are few in number.\u00a0 Hence, despite the Dollar\u2019s recent strength and attack at 100, the uptrend could easily crack should U.S. equities falter.\u00a0 We\u2019ve got multiple downtrend lines bearing down on price.\u00a0 Therefore, if the USD\/JPY should drop below our 1st tier uptrend and downtrend lines, we could witness a sharp, near-term correction.\u00a0 On the opposite side of the coin, life remains in the uptrend and a continuation of a path to the upside is certainly possible.\u00a0 Keep a close eye on this currency as volatility could pick up, particularly to the downside.\u00a0 Fundamentally, we see resistances of 99.06, 99.79, 100.28, 100.71, and 101.44.\u00a0 To the downside, we find supports of 98.16, 97.59, 97.11, 96.33, and 95.55.\u00a0 The USD\/JPY is currently exchanging at 98.46.<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/4_20yen.gif\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/4_20yen.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 Yen is strengthening slightly against the Dollar again, but the USD\/JPY is presently finding strength in our 1st tier uptrend line&#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-1473","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/1473","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=1473"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/1473\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=1473"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=1473"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=1473"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}