{"id":3225,"date":"2009-08-06T10:24:53","date_gmt":"2009-08-06T15:24:53","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=3225"},"modified":"2009-08-06T10:24:53","modified_gmt":"2009-08-06T15:24:53","slug":"usdjpy-pops-off-our-1st-tier-uptrend-line","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/08\/06\/usdjpy-pops-off-our-1st-tier-uptrend-line\/","title":{"rendered":"USD\/JPY Pops Off our 1st Tier Uptrend Line"},"content":{"rendered":"

By Fast Brokers<\/strong> – The USD\/JPY is popping off our 1st tier uptrend line and is trading back above the psychological 95 level as we type.\u00a0 Today\u2019s move higher is clearly an act of correlation.\u00a0 There\u2019s no game-changing news on the wire from Japan, and the Dollar is appreciating rapidly against the Pound after the BOE\u2019s injection of liquidity.\u00a0 We notice a broad-based appreciation of the Dollar as well as negative consolidation in both gold and the S&P futures.\u00a0 Hence, it seems investors are making a little run to safety in light of the BOE\u2019s cautious stance at today\u2019s monetary policy meeting.\u00a0 We believe the USD\/JPY\u2019s solid move higher clarifies this assumption as the currency pair benefits from a return to the Dollar.<\/p>\n

Meanwhile, the USD\/JPY is experiencing considerable strength along our 1st tier uptrend line.\u00a0 The USD\/JPY has been resilient as of late, meaning the currency pair may have what it takes to test our 3rd tier downtrend line.\u00a0 Our 3rd tier downtrend line is the next blockade to the upside.\u00a0 Therefore, a test is likely as long as the USD\/JPY creates some space between price and our 1st tier uptrend line.\u00a0 On the other hand, we\u2019ve seen the USD\/JPY make promising moves time and again, only to revert to its old consolidative habits and retrace back beneath our 1st tier uptrend line.\u00a0 Hence, bulls shouldn\u2019t get their hopes up yet.<\/p>\n

Present Price: 95.55<\/p>\n

Resistances: 95.83, 96.16, 96.33, 96.77, 96.96<\/p>\n

Supports:\u00a0 95.41, 95.22, 94.99, 94.71, 94.46<\/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 popping off our 1st tier uptrend line and is trading back above the psychological 95 level as we type.\u00a0 Today\u2019s move higher is clearly an act of correlation.\u00a0 There\u2019s no game-changing news on the wire from Japan, and the Dollar is appreciating rapidly against the Pound after the … <\/p>\n

Continue reading “USD\/JPY Pops Off our 1st Tier Uptrend Line”<\/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-3225","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/3225","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=3225"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/3225\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=3225"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=3225"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=3225"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}