{"id":2728,"date":"2009-06-29T11:03:25","date_gmt":"2009-06-29T16:03:25","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=2728"},"modified":"2009-06-29T11:03:25","modified_gmt":"2009-06-29T16:03:25","slug":"usdjpy-continues-to-drift-sideways","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/06\/29\/usdjpy-continues-to-drift-sideways\/","title":{"rendered":"USD\/JPY Continues to Drift Sideways"},"content":{"rendered":"

By Fast Brokers<\/strong> – The USD\/JPY continues to tease investors as it fails to follow through on its threats of a large pullback.\u00a0 We\u2019ve seen rising volume to the upside followed by climbing volume to the downside, hence the relatively tight trading range.\u00a0 Despite being in the position drop towards our 1st tier uptrend line, the USD\/JPY continually experiences support at just the right moment.\u00a0 Therefore, the USD\/JPY seems to exemplify the investor indecisiveness present across the marketplace as a whole.\u00a0 The USD\/JPY may wait for the market to make its broad-based direction decision before the currency pair makes a game-changing movement of its own.\u00a0 The data and news coming this week has the potential to jolt the FX markets since investors will receive heavily-weighted data from across the globe.\u00a0 Japan will get the ball rolling with average cash earnings late Monday followed by the Tankan number on Tuesday.\u00a0 Investors are expecting an improvement to -43 in the Tankan since last week\u2019s BSI manufacturing index and Japan\u2019s trade balance were slightly better than expected.<\/p>\n

Despite its relative stability over the past couple months, the USD\/JPY remains in a vulnerable position.\u00a0 The probability of a retracement to our 1st tier uptrend line becomes more probable by the day as the trend line creeps towards price.\u00a0 Any technical failure of our 1st tier uptrend line could imply the beginning of a new leg down in the USD\/JPY, which would inflict considerable damage upon Japan\u2019s already fragile economy.\u00a0 Furthermore, there are several strong downtrend lines and the highly psychological 100 level the currency pair must brave through, no easy feat.\u00a0 Regardless, the USD\/JPY\u2019s supports are in place and it is difficult to pass judgment on the currency pair until it sends a clear directional message.<\/p>\n

Present Price: 95.38<\/p>\n

Resistances: 95.73, 96.33, 96.90, 97.45, 98.05<\/p>\n

Supports: 94.99, 94.45, 93.76, 93.32, 92.46<\/p>\n

Psychological: 90, 95, 100<\/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 to tease investors as it fails to follow through on its threats of a large pullback.\u00a0 We\u2019ve seen rising volume to the upside followed by climbing volume to the downside, hence the relatively tight trading range.\u00a0 Despite being in the position drop towards our 1st tier uptrend line, … <\/p>\n

Continue reading “USD\/JPY Continues to Drift Sideways”<\/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-2728","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/2728","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=2728"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/2728\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=2728"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=2728"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=2728"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}