{"id":3297,"date":"2009-08-11T11:24:53","date_gmt":"2009-08-11T16:24:53","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=3297"},"modified":"2009-08-11T11:24:53","modified_gmt":"2009-08-11T16:24:53","slug":"usdjpy-slides-toward-95","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/08\/11\/usdjpy-slides-toward-95\/","title":{"rendered":"USD\/JPY Slides Toward 95"},"content":{"rendered":"<p><strong>By Fast Brokers<\/strong> &#8211; The USD\/JPY\u2019s pullback has picked up traction, dropping below 2nd tier uptrend and 3rd tier downtrend lines.\u00a0 Continued strength in the Yen comes after stronger than expected economic data from Japan to kick off the week.\u00a0 Meanwhile, the S&amp;P futures are logging considerable declines today, giving investors more incentive to favor the Yen and head for safety.\u00a0 However, today\u2019s pullback in the S&amp;P comes on limited news, indicating a case of overbought conditions.\u00a0 Therefore, it seems the USD\/JPY\u2019s positive correlation with U.S. equities is back in full swing.\u00a0 Volatility in the USD\/JPY has really picked up considering its dormant behavior as of late.<\/p>\n<p>Despite today\u2019s setback, the USD\/JPY remains well above our 1st tier uptrend line and the psychological 95 level.\u00a0 Therefore, bulls shouldn\u2019t throw in the towel just yet.\u00a0 Our 1st tier uptrend line has proven reliable recently.\u00a0 However, the USD\/JPY\u2019s August highs are beneath its June highs, setting up the possibility of a head-fake and a retreat into the grips of its downtrend.\u00a0 Therefore, we\u2019ll have to monitor how the USD\/JPY\u2019s support system holds up.<\/p>\n<p>Present Price: 95.85<\/p>\n<p>Resistances: 96.10, 96.47, 96.81, 97.10, 97.47<\/p>\n<p>Supports:\u00a0 95.75, 95.61, 95.30, 94.99, 94.69<\/p>\n<p>Psychological: 95<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/august11yen.gif\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/august11yen.gif\" alt=\"\" width=\"595\" height=\"521\" \/><\/a><\/p>\n<p><em><strong>Market Commentary<\/strong><\/em> provided by <a href=\"http:\/\/www.fastbrokers.com\/index.php?PL080\" target=\"_blank\"><span style=\"text-decoration: underline;\"><strong>Fast Brokers<\/strong><\/span><\/a>.<\/p>\n<p><strong>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<p><strong>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":"<p>By Fast Brokers &#8211; The USD\/JPY\u2019s pullback has picked up traction, dropping below 2nd tier uptrend and 3rd tier downtrend lines.\u00a0 Continued strength in the Yen comes after stronger than expected economic data from Japan to kick off the week.\u00a0 Meanwhile, the S&amp;P futures are logging considerable declines today, giving investors more incentive to favor &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2009\/08\/11\/usdjpy-slides-toward-95\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;USD\/JPY Slides Toward 95&#8221;<\/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-3297","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/3297","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=3297"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/3297\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=3297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=3297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=3297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}