{"id":1653,"date":"2009-04-29T09:47:36","date_gmt":"2009-04-29T14:47:36","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=1653"},"modified":"2009-04-29T09:47:36","modified_gmt":"2009-04-29T14:47:36","slug":"usdjpy-daily-commentary-for-42909","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/04\/29\/usdjpy-daily-commentary-for-42909\/","title":{"rendered":"USD\/JPY Daily Commentary for 4.29.09"},"content":{"rendered":"

By Fast Brokers<\/span><\/p>\n

The USD\/JPY is at a standstill after yesterday\u2019s banking holiday.\u00a0 The volume in the currency pair has been subdued as investors await the Prelim GDP data from the U.S. today, followed by Japan\u2019s Prelim Industrial Production number in the evening PST.\u00a0 The USD\/JPY is sitting at a key juncture, the inflection point of our 1st tier downtrend and 2nd tier uptrend lines.\u00a0 Therefore, we expect the USD\/JPY to awaken with all of the incoming news.<\/p>\n

Japan\u2019s economy continues to struggle with an overall appreciated Yen squeezing the nation\u2019s export industry.\u00a0 Therefore, investors have been reluctant to appreciate the USD\/JPY considerably even during flights to safety.\u00a0 Both the Japanese and American economies remain mired in the economic crisis with long interest rate swaps close to nil.\u00a0 Hence, we continue to see the behavior of the USD\/JPY reflect comparative economic performance.<\/p>\n

The USD\/JPY is still trading at dangerous levels and could be very close to giving way to its powerful downtrend.\u00a0 If this should happen, we could see a retest of March lows with the currency pair headed towards our 1st tier uptrend line.\u00a0 On the other hand, if economic data from Japan and the U.S. manages to outperform, the currency pair may choose to hop back above its 2nd tier uptrend line in a sign of stability.<\/p>\n

Fundamentally, we maintain our resistances of 97.11, 97.98, 98.56, 99.20, and 99.79.\u00a0 To the downside, we hold our supports of 96.33, 95.55, 95.04, 94.48, and 93.57.\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 96.78.<\/p>\n

\"\"<\/a><\/p>\n

Market Commentary<\/strong><\/em> provided by Fast Brokers<\/strong><\/span><\/a>.<\/p>\n

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

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":"

By Fast Brokers – The USD\/JPY is at a standstill after yesterday\u2019s banking holiday. The volume in the currency pair has been subdued as investors…<\/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-1653","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/1653","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=1653"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/1653\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=1653"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=1653"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=1653"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}