{"id":1514,"date":"2009-04-22T09:55:17","date_gmt":"2009-04-22T14:55:17","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=1514"},"modified":"2009-04-22T09:55:17","modified_gmt":"2009-04-22T14:55:17","slug":"usdjpy-daily-commentary-for-42209","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/04\/22\/usdjpy-daily-commentary-for-42209\/","title":{"rendered":"USD\/JPY Daily Commentary for 4.22.09"},"content":{"rendered":"<p><span style=\"color: #888888;\">By Fast Brokers<\/span><\/p>\n<p>The USD\/JPY is heading south as our 1st tier uptrend line and 2nd tier downtrend lines reach an inflection point despite a better than expected Trade Balance from Japan earlier today.\u00a0 Japan\u2019s Trade Balance showed slight improvements in exports, although nothing to pour champagne over.\u00a0 We feel the Trade Balance data could be a lagging indicator as it may not reflect the present export environment.\u00a0 What we do see is a currency pair succumbing to its negative tendencies, following U.S. equities lower.\u00a0 The strong positive correlation between the two is returning to the fray as the highly psychological 100 level fades into the distance.\u00a0 The obstacles to the upside are mounting, and the inability for the USD\/JPY to capitalize on its advantageous position in March shows the currency pair is not ready to commit to an end in the global financial crisis.\u00a0 While investor focus may be on the EUR\/USD and GBP\/USD right now due to the USD\/JPY\u2019s lack of volatility lately, we encourage traders to keep a close eye on this currency pair.\u00a0 If the USD\/JPY were to decline below our 97.11 support and 1st tier downtrend line, we could see losses accelerate rapidly in the near-term.\u00a0 The performance of the USD\/JPY will likely depend on U.S. equities.\u00a0 If the S&amp;P futures experience further weakness the USD\/JPY may be inclined to follow suit.\u00a0 Fundamentally, we find resistances of 98.56, 99.20, 99.79, 100.28, and 100.71.\u00a0 To the downside, we see supports of 97.59, 97.11, 96.33, and 95.55 with fresh bottom-end of 95.04.\u00a0 The 100 level serves as a key psychological barrier with 95 acting as a psychological cushion.\u00a0 The USD\/JPY is currently exchanging at 97.66.<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/4_22yen.gif\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/4_22yen.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 is heading south as our 1st tier uptrend line and 2nd tier downtrend lines reach an inflection point despite&#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-1514","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/1514","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=1514"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/1514\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=1514"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=1514"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=1514"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}