{"id":2699,"date":"2009-06-26T10:43:02","date_gmt":"2009-06-26T15:43:02","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=2699"},"modified":"2009-06-26T10:43:02","modified_gmt":"2009-06-26T15:43:02","slug":"usdjpy-steps-back-from-its-2nd-tier-trend-lines","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/06\/26\/usdjpy-steps-back-from-its-2nd-tier-trend-lines\/","title":{"rendered":"USD\/JPY Steps Back From its 2nd Tier Trend Lines"},"content":{"rendered":"<p><strong>By Fast Brokers<\/strong> &#8211; The USD\/JPY is backing away from our 2nd tier uptrend line again as the Dollar appreciates across the board in reaction to China\u2019s repeated call for a new global monetary standard.\u00a0 In the mean time, the USD\/JPY remains the beacon for investor indecisiveness.\u00a0 While bears are tempted to test the downside potential of the USD\/JPY with the currency pair trading in a dangerous zone, the bulls continually come to the USD\/JPY\u2019s defense to keep the currency pair from falling off a cliff.\u00a0 The result is a relatively tight and moderate trading rage.\u00a0 As for the immediate-term, it will be interesting to see how the USD\/JPY interacts with June 23rd and 24th lows.\u00a0 We\u2019ve seen the USD\/JPY play with fire before only to pop back above our 2nd tier.\u00a0 However, if the USD\/JPY is serious about a pullback this time, we could witness a near-term movement towards our 1st tier uptrend line.\u00a0 After all, we have several trend lines reaching their respective inflection points today.\u00a0 Declining volume supports a movement to the downside, yet the USD\/JPY would likely need a large, corresponding movement across the marketplace to fall beneath May 22nd lows.<\/p>\n<p>Present Price: 95.25<\/p>\n<p>Resistances: 95.73, 96.33, 96.90, 97.45, 98.05<\/p>\n<p>Supports: 94.99, 94.45, 93.76, 93.32, 92.46<\/p>\n<p>Psychological: 90, 95, 100<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/6_26yen.gif\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/6_26yen.gif\" alt=\"\" width=\"595\" height=\"450\" \/><\/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 is backing away from our 2nd tier uptrend line again as the Dollar appreciates across the board in reaction to China\u2019s repeated call for a new global monetary standard.\u00a0 In the mean time, the USD\/JPY remains the beacon for investor indecisiveness.\u00a0 While bears are tempted to test the downside &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2009\/06\/26\/usdjpy-steps-back-from-its-2nd-tier-trend-lines\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;USD\/JPY Steps Back From its 2nd Tier Trend Lines&#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-2699","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/2699","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=2699"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/2699\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=2699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=2699"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=2699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}