{"id":19740,"date":"2011-02-22T15:16:45","date_gmt":"2011-02-22T20:16:45","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=19740"},"modified":"2011-02-22T15:16:45","modified_gmt":"2011-02-22T20:16:45","slug":"forex-usdjpy-falls-lower-on-risk-aversion","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/02\/22\/forex-usdjpy-falls-lower-on-risk-aversion\/","title":{"rendered":"Forex: USD\/JPY falls lower on risk aversion"},"content":{"rendered":"<p><strong>By CountingPips.com<\/strong><\/p>\n<p>The US dollar has been trading lower today against the Japanese yen in forex trading on risk aversion due to the conflict in Libya. The dollar\/yen pair had closed higher in yesterday&#8217;s trading after falling lower to finish last week. Today&#8217;s decline that has brought the USD\/JPY down to the 82.70 exchange rate.<\/p>\n<p>The USD\/JPY had been on an upswing for most of February with a top culminating at the 83.96 exchange rate on February 16th. The pair tested (for the first time since June 2010) but failed to close above the 200-day moving average (in black) and instead bounced off and decreased lower.<\/p>\n<p>The pair currently trades just above a previous support line near the 82.50 level after today breaking through the 50.0 Fibonacci retracement level (on the move down from 85.92 to 80.17). Further bearishness could bring a test of the 38.2 Fibonacci level at 82.35 while upside barriers are present at the 50.0 Fibonacci retracement level near 83.00 and resistance around 83.50.<\/p>\n<p>The MACD indicator signals a potentially imminent bearish cross, suggesting further bearish price action could be in store.<\/p>\n<p><strong>USD\/JPY Daily Forex Chart<\/strong><\/p>\n<p><a href=\"http:\/\/countingpips.com\/fx\/wp-content\/uploads\/2011\/02\/usdjpy-feb22.gif\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-19741\" title=\"usdjpy-feb22\" src=\"http:\/\/countingpips.com\/fx\/wp-content\/uploads\/2011\/02\/usdjpy-feb22.gif\" alt=\"\" width=\"590\" height=\"600\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The US dollar has been trading lower today against the Japanese yen in forex trading on risk aversion due to the conflict in Libya. The dollar\/yen pair had closed higher in yesterday&#8217;s trading after falling lower to finish last week.<\/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-19740","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/19740","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=19740"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/19740\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=19740"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=19740"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=19740"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}