{"id":2807,"date":"2009-07-06T09:56:47","date_gmt":"2009-07-06T14:56:47","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=2807"},"modified":"2009-07-06T09:56:47","modified_gmt":"2009-07-06T14:56:47","slug":"usdjpy-drags-as-investors-head-for-safety","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/07\/06\/usdjpy-drags-as-investors-head-for-safety\/","title":{"rendered":"USD\/JPY Drags as Investors Head for Safety"},"content":{"rendered":"

By Fast Brokers<\/strong> – The USD\/JPY is edging lower again with investors exiting crude while sending the Cable and EUR\/USD lower.\u00a0 Although the S&P hasn\u2019t logged as large of losses as the aforementioned correlations, they are trading right at June lows, an important level technically.\u00a0 The slight pullback in the USD\/JPY reinforces a theme of negative market sentiment.\u00a0 However, the USD\/JPY remains above 6\/29 lows, and we\u2019ve yet to witness significant volume to the downside.\u00a0 Therefore, the consolidation of the USD\/JPY carriers on with our 1st tier uptrend line slowly creeping into the picture.\u00a0 We expect the consolidation to continue until investors make a more concrete directional decision in the S&P.\u00a0 The trend decision could come sooner than later with the 2nd quarter earnings season beginning Wednesday while most of the USD\/JPY\u2019s correlations trade at or near important technical levels.\u00a0 The amount of investor uncertainty is increasing in regards to the sustainability of the present economic recovery.\u00a0 This uncertainty is reflected by the negative tendency of the USD\/JPY.\u00a0 Any retracement below our 1st tier uptrend line and March lows could signal the beginning of a new leg down.<\/p>\n

Japan will release a set of economic data points tomorrow, including core machinery orders, bank lending, current account and the M2 money stock.\u00a0 Investors will pay close attention to see if core machinery orders can continue their positive performance, or whether the data point experiences a setback along with the recent Tankan number.\u00a0 It seems Japan\u2019s manufacturing and export sectors are stuck in a rut due to declining global consumption coupled with an abnormally appreciated Yen.<\/p>\n

Present Price: 95.26<\/p>\n

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

Supports: 94.99, 94.45, 93.76, 93.32, 92.57<\/p>\n

Psychological: 95<\/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 is edging lower again with investors exiting crude while sending the Cable and EUR\/USD lower.\u00a0 Although the S&P hasn\u2019t logged as large of losses as the aforementioned correlations, they are trading right at June lows, an important level technically.\u00a0 The slight pullback in the USD\/JPY reinforces a theme of … <\/p>\n

Continue reading “USD\/JPY Drags as Investors Head for Safety”<\/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-2807","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/2807","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=2807"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/2807\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=2807"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=2807"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=2807"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}