{"id":20175,"date":"2011-03-17T01:58:18","date_gmt":"2011-03-17T05:58:18","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=20175"},"modified":"2011-03-17T01:58:18","modified_gmt":"2011-03-17T05:58:18","slug":"earthquake-and-tsunami-jolted-the-japanese-yen","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/03\/17\/earthquake-and-tsunami-jolted-the-japanese-yen\/","title":{"rendered":"Earthquake And Tsunami Jolted The Japanese Yen"},"content":{"rendered":"<p><a href=\"http:\/\/www.laidtrades.com\/wp-content\/uploads\/2011\/03\/USDJPY-japanese-yen-march-15-2011.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-8381 size-medium\" title=\"USDJPY japanese yen march 15, 2011\" src=\"http:\/\/www.laidtrades.com\/wp-content\/uploads\/2011\/03\/USDJPY-japanese-yen-march-15-2011-300x170.png\" alt=\"USDJPY, USD\/JPY, USD, JPY, US dollar, japanese yen, earthquake, tsunami, miyagi, japan, symmetrical triangle, ron acoba, daily forex picks\" width=\"300\" height=\"170\" \/><\/a><\/p>\n<p>Last  Friday, an 8.9 magnitude shocked the northeast coast in Japan which  generated a gigantic tsunami that swept cities and killed thousands. We,  at <a href=\"http:\/\/www.laidtrades.com\/\">LaidTrades.com<\/a>, offer our prayers to Japan especially those who are gravely affected by the disaster.<\/p>\n<p>Such acts of God also have some impact on the financial markets. In  fact, Friday&rsquo;s calamity also jolted the financial markets, particularly  the <a title=\"USD\/JPY\" href=\"http:\/\/www.laidtrades.com\/category\/forex\/usdjpy\/\" target=\"_blank\">USDJPY<\/a> pair. As you can see from the chart above, the Japanese yen gained a total of 110 pips in one swift move against the <a title=\"US Dollar\" href=\"http:\/\/www.laidtrades.com\/category\/forex\/us-dollar-index\/\" target=\"_blank\">US dollar<\/a> when the pair fell and closed to 81.82 from an opening of 82.92. You see, the USDJPY has been trading within a <a title=\"Symmetrical Triangle\" href=\"http:\/\/www.laidtrades.com\/chart-patterns\/symmetrical-triangle\" target=\"_blank\">symmetrical triangle<\/a> that is off a <a title=\"Downtrend\" href=\"http:\/\/www.laidtrades.com\/chart-patterns\/downtrend\" target=\"_blank\">downtrend<\/a> for a little over 4 months now. Friday&rsquo;s currency exchange actually pushed the pair to the brink of another breakdown.<\/p>\n<p>Concerns about the tragedy&rsquo;s economic impact on Japan and of course  its trading partners continued to linger this Monday causing the Dow  Jones Industrial Index, for one, to slip. Meanwhile, the Japanese yen  continued to falter when it opened lower at 81.29, causing a breakdown  from the symmetrical triangle. Presently, the USDJPY is trading right at  the triangle&rsquo;s support. If this support acts as a resistance then the  pair could fall at least back to its previous low at 80.33. Worse, it  could even go lower and aim for its downside target 77.50.<\/p>\n<p>Anyway, a lot of you maybe asking why the <a title=\"Japanese Yen\" href=\"http:\/\/www.laidtrades.com\/category\/forex\/usdjpy\/\" target=\"_blank\">Japanese yen<\/a> still gained despite the adversity that Japan suffered. Well, it&rsquo;s  because of risk aversion. You see, traders and investors flee to the  safety of the Japanese yen and away from the US dollar in times of  adversity. In case you do not know, the Japanese yen has an ultra low  interest rate of 0.10% against the US dollar which has 0.25%, giving the  former a &ldquo;safety&rdquo; feature. <\/p>\n<p>More on <a href=\"http:\/\/www.laidtrades.com\/\">LaidTrades.com<\/a> &#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Last Friday, an 8.9 magnitude shocked the northeast coast in Japan which generated a gigantic tsunami that swept cities and killed thousands. We, at LaidTrades.com, offer our prayers to Japan especially those who are gravely affected by the disaster. Such acts of God also have some impact on the financial markets. In fact, Friday&rsquo;s calamity &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2011\/03\/17\/earthquake-and-tsunami-jolted-the-japanese-yen\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Earthquake And Tsunami Jolted The Japanese Yen&#8221;<\/span><\/a><\/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-20175","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/20175","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=20175"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/20175\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=20175"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=20175"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=20175"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}