{"id":2863,"date":"2009-07-09T10:20:25","date_gmt":"2009-07-09T15:20:25","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=2863"},"modified":"2009-07-09T10:20:25","modified_gmt":"2009-07-09T15:20:25","slug":"usdjpy-logs-significant-losses","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/07\/09\/usdjpy-logs-significant-losses\/","title":{"rendered":"USD\/JPY Logs Significant Losses"},"content":{"rendered":"

By Fast Brokers<\/strong> – The USD\/JPY continued its heavy losses yesterday after the currency pair reactive negatively to the inflection point of our 1st tier uptrend and downtrend lines.\u00a0 Volume increased to the downside with the currency pair breaking below important March 19 lows.\u00a0 The USD\/JPY seems to finally be making a decision trend-wise after months of heavy consolidation.\u00a0 We viewed our 1st tier uptrend line as a critical support, and it wouldn\u2019t be surprising to see losses accelerate over the coming week.\u00a0 The USD\/JPY\u2019s negative inflection comes with the S&P futures trading at important supports and 2nd quarter earnings season on the way.\u00a0 It will be interesting to see if the USD\/JPY\u2019s present breakdown indicates an upcoming selloff in U.S. equities.\u00a0 If so, we could witness the USD\/JPY retest the highly psychological 90 level.<\/p>\n

Japan reported discouraging Core Machinery Orders and Current Account data Tuesday.\u00a0 These data points signal the Japanese economy continues to feel pressure from declining demand for its manufactured goods both at home and abroad.\u00a0 Lower Japanese corporate earnings and higher unemployment are pinching domestic demand.\u00a0 The discouraging Current Account number makes investors worry that international consumption is not picking up as quickly as the improvement in global consumer sentiment data may suggest.\u00a0 An appreciating Yen should only make matters worse, so a declaration of the downtrend by the USD\/JPY could be very bad news for Japan.<\/p>\n

Present Price: 92.84.<\/p>\n

Resistances: 93.32, 93.76, 94.45, 94.99, 95.73<\/p>\n

Supports:\u00a0 92.57, 91.96, 91.50, 91.03, 90.28<\/p>\n

Psychological: 90, 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 continued its heavy losses yesterday after the currency pair reactive negatively to the inflection point of our 1st tier uptrend and downtrend lines.\u00a0 Volume increased to the downside with the currency pair breaking below important March 19 lows.\u00a0 The USD\/JPY seems to finally be making a decision trend-wise after … <\/p>\n

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