{"id":3446,"date":"2009-08-21T11:15:00","date_gmt":"2009-08-21T16:15:00","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=3446"},"modified":"2009-08-21T11:15:00","modified_gmt":"2009-08-21T16:15:00","slug":"usdjpy-bumps-higher-after-u-s-existing-home-sales-data","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/08\/21\/usdjpy-bumps-higher-after-u-s-existing-home-sales-data\/","title":{"rendered":"USD\/JPY Bumps Higher after U.S. Existing Home Sales Data"},"content":{"rendered":"

By Fast Brokers<\/strong> – Investors are biting on the USD\/JPY after U.S. Existing Home Sales beat analyst expectations.\u00a0 The USD\/JPY\u2019s about face shows the level of uncertainty surrounding the viability of the Dollar.\u00a0 Investors are suddenly more comfortable buying the Dollar after a series of positive global economic data.\u00a0 However, the USD\/JPY still clearly faces significant downward pressure, and it will take more than one session of data to turn things around.\u00a0 On the other hand, we\u2019re sure it\u2019s comforting for the BOJ to see the USD\/JPY forming some sort of bottom as the currency pair tries to get back to its psychological 95 level.\u00a0 Meanwhile, the S&P futures and leapt to fresh 2009 highs, a positive development for the concept of a global economic recovery.\u00a0 We will have to monitor whether the S&P futures can separate themselves further from their highly psychological 1000 level.\u00a0 If so, the USD\/JPY may be inclined to follow U.S. equities higher as investors cautiously return to risk.<\/p>\n

Technically speaking, the USD\/JPY\u2019s obstacles to the topside are our 3rd tier downtrend line and the psychological 95 level.\u00a0 We created a near 1st tier uptrend line running through July\u2019s bottom.\u00a0 Our 2nd tier uptrend line is approaching its inflection point with our 3rd tier downtrend line, indicating volatility could escalate.\u00a0 The trend collision could be positive for the USD\/JPY since the currency pair\u2019s momentum is in favor of the bulls today.<\/p>\n

Present Price: 94.61<\/p>\n

Resistances: 94.71, 94.95, 95.26, 95.44, 95.96<\/p>\n

Supports:\u00a0 94.36, 94.08, 93.88, 93.65, 93.42<\/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 – Investors are biting on the USD\/JPY after U.S. Existing Home Sales beat analyst expectations.\u00a0 The USD\/JPY\u2019s about face shows the level of uncertainty surrounding the viability of the Dollar.\u00a0 Investors are suddenly more comfortable buying the Dollar after a series of positive global economic data.\u00a0 However, the USD\/JPY still clearly faces … <\/p>\n

Continue reading “USD\/JPY Bumps Higher after U.S. Existing Home Sales 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-3446","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/3446","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=3446"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/3446\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=3446"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=3446"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=3446"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}