{"id":1553,"date":"2009-04-24T08:55:25","date_gmt":"2009-04-24T13:55:25","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=1553"},"modified":"2009-04-24T08:55:25","modified_gmt":"2009-04-24T13:55:25","slug":"usdjpy-daily-commentary-for-42409","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/04\/24\/usdjpy-daily-commentary-for-42409\/","title":{"rendered":"USD\/JPY Daily Commentary for 4.24.09"},"content":{"rendered":"<p><span style=\"color: #888888;\">By Fast Brokers<\/span><\/p>\n<p>The USD\/JPY has declined below our 1st tier downtrend line and is flirting with very dangerous territory.\u00a0 Its recent downturn could indicate that a large selloff is pending.\u00a0 However, the USD\/JPY\u2019s deterioration is puzzling since the EUR\/USD and GBP\/USD are breaking out while the S&amp;P futures play with the idea of a brighter future as well.\u00a0 This development in the USD\/JPY is mysterious since the currency pair has been positively correlated with all of these other investment vehicles throughout the crisis.\u00a0 Could the present performance of the USD\/JPY be hinting at an overall depreciation in the Dollar as analysts have forewarned?\u00a0\u00a0 Since we haven\u2019t seen any game-changing news from Japan over the past 24 hours and the U.S. reported stronger than expected Durable Goods Orders, our speculation is certainly plausible.\u00a0 However, we would have to witness a clear follow through in order to make a more convincing argument.\u00a0 The USD\/JPY could simply be giving investors a head fake before it turns higher.\u00a0 Fundamentally, we find resistances of 97.98, 98.56, 99.20, 99.79, and 100.28.\u00a0 To the downside, we see supports of 97.11, 96.33, 95.55, 95.04, and 94.48.\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 97.04.<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/4_24yen.gif\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/4_24yen.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 has declined below our 1st tier downtrend line and is flirting with very dangerous territory&#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-1553","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/1553","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=1553"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/1553\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=1553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=1553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=1553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}