{"id":3166,"date":"2009-07-31T12:22:59","date_gmt":"2009-07-31T17:22:59","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=3166"},"modified":"2009-07-31T12:22:59","modified_gmt":"2009-07-31T17:22:59","slug":"usdjpy-buckles-on-climbing-volume-after-mixed-us-eco-data","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/07\/31\/usdjpy-buckles-on-climbing-volume-after-mixed-us-eco-data\/","title":{"rendered":"USD\/JPY Buckles on Climbing Volume after Mixed U.S. Eco. Data"},"content":{"rendered":"

By Fast Brokers<\/strong> – The USD\/JPY is back below 95 and our 1st tier uptrend line as it reaches an inflection point with our 2nd tier downtrend line.\u00a0 Volume is sizable, showing investors are backing today\u2019s decline.\u00a0 The combination of weaker than expected Japanese Industrial Production and Household Spending coupled with mixed U.S. GDP data regarding consumption is proving too much for the USD\/JPY\u2019s uptrend to handle.\u00a0 The mixed consumption data from the U.S. GDP number is taking some of the luster away from the optimism surrounding America\u2019s economic recovery.\u00a0 As we explained before, the uptrend in the USD\/JPY is presently reliant on a comparatively stronger U.S. economy vs. Japanese economy.\u00a0 Since both central banks lowered their benchmark rates close to zero while initiating QE and alternative liquidity policies, the valuation of the USD\/JPY is heavily influenced by comparative economic performance of the two nations.\u00a0 An appreciating Yen only inflicts more damage on fragile Japanese exporters since higher prices of Japanese products could discourage foreign consumers.<\/p>\n

Meanwhile, the S&P futures are staring up at their highly psychological 1000 level.\u00a0 The 1000 mark should prove to be a tough obstacle, meaning the S&P could have limited near-term mobility to the upside.\u00a0 This could cap gains in the USD\/JPY since the currency pair is positively correlated with U.S. equities.\u00a0 Technically speaking, it would be an encouraging sign if the USD\/JPY could fight back above our 1st tier uptrend line as it collides with our 2nd tier downtrend line.\u00a0 The currency pair will need to deal with the psychological 95 level again while our 3rd tier downtrend line gradually approaches.\u00a0 As for the downside, the USD\/JPY has 7\/29 and 7\/23 lows to fall back on should the situation deteriorate.<\/p>\n

Present Price: 94.62<\/p>\n

Resistances: 94.99, 95.73, 96.33, 96.77, 97.20<\/p>\n

Supports:\u00a0 94.49, 93.82, 93.28, 92.90, 92.39<\/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 back below 95 and our 1st tier uptrend line as it reaches an inflection point with our 2nd tier downtrend line.\u00a0 Volume is sizable, showing investors are backing today\u2019s decline.\u00a0 The combination of weaker than expected Japanese Industrial Production and Household Spending coupled with mixed U.S. GDP data … <\/p>\n

Continue reading “USD\/JPY Buckles on Climbing Volume after Mixed U.S. Eco. Data”<\/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-3166","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/3166","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=3166"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/3166\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=3166"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=3166"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=3166"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}