{"id":3653,"date":"2009-09-04T11:40:11","date_gmt":"2009-09-04T16:40:11","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=3653"},"modified":"2009-09-04T11:40:11","modified_gmt":"2009-09-04T16:40:11","slug":"usdjpys-bounce-loses-steam","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/09\/04\/usdjpys-bounce-loses-steam\/","title":{"rendered":"USD\/JPY\u2019s Bounce Loses Steam"},"content":{"rendered":"

By Fast Brokers<\/strong> – The USD\/JPY\u2019s bounce is losing momentum due to inadequate buy-side activity.\u00a0 The USD\/JPY failed to close above our 1st tier uptrend line and September highs on the 4-hours while our 2nd tier downtrend line hangs in the distance.\u00a0 Investors were acting on oversold conditions, and rightly so.\u00a0 The psychological impact of the DPJ\u2019s victory is wearing off and attention should return to economic fundamentals.\u00a0 Movements in the EUR\/USD and GBP\/USD are constrained by consolidation as investors continue to debate the viability of the global economic recovery.\u00a0 Therefore, the USD\/JPY may enter a consolidative phase of its own as investors decide where to take the Dollar.\u00a0 Regardless, there remains a strong downward pressure on the USD\/JPY.\u00a0 Ultimately, the USD\/JPY\u2019s fate will likely depend on the S&P futures.\u00a0 The S&P futures continue to float around 1000 and lack a definite near-term trend.\u00a0 However, once the S&P futures do make a technically significant movement, investors will likely see a comparable response in the USD\/JPY, possibly a retracement beneath July lows.<\/p>\n

Next week is chalk full of data, including Japan\u2019s Core Machinery Orders on Wednesday and Final GDP on Thursday.\u00a0 Investors will also be paying close attention to the wave of Chinese economic data on Thursday since Japan has been relying on China\u2019s demand for exports.\u00a0 Investors will also receive key economic data from the U.S. along with a BOE monetary policy decision on Thursday.\u00a0 Hence, next week could be a return to volatility with the summer coming to a close, especially since the EUR\/USD and GBP\/USD are both experiencing multiple trend line inflection points soon.<\/p>\n

Present Price: 92.86<\/p>\n

Resistances:\u00a0 92.97, 93.17, 93.33, 93.44, 93.59<\/p>\n

Supports:\u00a0 92.77, 92.68, 92.55, 92.43, 92.27<\/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\u2019s bounce is losing momentum due to inadequate buy-side activity.\u00a0 The USD\/JPY failed to close above our 1st tier uptrend line and September highs on the 4-hours while our 2nd tier downtrend line hangs in the distance.\u00a0 Investors were acting on oversold conditions, and rightly so.\u00a0 The psychological impact of … <\/p>\n

Continue reading “USD\/JPY\u2019s Bounce Loses Steam”<\/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-3653","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/3653","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=3653"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/3653\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=3653"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=3653"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=3653"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}