{"id":2314,"date":"2009-06-04T09:19:24","date_gmt":"2009-06-04T14:19:24","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=2314"},"modified":"2009-06-04T09:19:24","modified_gmt":"2009-06-04T14:19:24","slug":"usdjpy-perks-up-as-the-dollar-appreciates-across-the-board","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/06\/04\/usdjpy-perks-up-as-the-dollar-appreciates-across-the-board\/","title":{"rendered":"USD\/JPY Perks Up as the Dollar Appreciates Across the Board"},"content":{"rendered":"

By Fast Brokers<\/strong> – The USD\/JPY continues its gradual ascent as it gives what it can to the broad appreciation of the Dollar taking place.\u00a0 Meanwhile, our 2nd tier uptrend line and 1st tier downtrend line are reaching an inflection point today.\u00a0 However, we feel the inflection point with our 2nd tier downtrend line will have a more prominent impact on the currency pair since the USD\/JPY continues to bounce between these trend lines.\u00a0 Volume is increasing to the upside on the 4-hour, meaning we could have a retest of our 2nd tier downtrend line shortly.\u00a0 As with the rest of the major Dollar pairs, investors are reacting to both a slower improvement in U.S. economic data and aggressive language from Bernanke concerning the Fed pulling in the reins on monetary policy.\u00a0 Therefore, the U.S. may attempt to put a cap on debt creation and let the cards fall where they may, giving near-term strength the Dollar.\u00a0 Japan released some data late Wednesday showing capital spending declined less than anticipated, though the reading was still much lower than March\u2019s.\u00a0 The better than expected capital spending number may be limiting gains in the USD\/JPY today.\u00a0 Regardless, we still haven\u2019t seen a substantial breakout in the USD\/JPY to the upside, giving us little reason to change our bear trend outlook.\u00a0 On the other hand, the currency pair hasn\u2019t collapsed either, giving the uptrend a glimmer of hope.<\/p>\n

Fundamentally, we maintain resistances of 96.33, 96.90, 97.45, 97.98, and 98.66.\u00a0 To the downside, we find supports of 95.82, 95.12, 94.43, 93.77, and 93.11.\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 96.40.<\/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 continues its gradual ascent as it gives what it can to the broad appreciation of the Dollar taking place.\u00a0 Meanwhile, our 2nd tier uptrend line and 1st tier downtrend line are reaching an inflection point today.\u00a0 However, we feel the inflection point with our 2nd tier downtrend line will … <\/p>\n

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