{"id":3926,"date":"2009-09-21T11:20:32","date_gmt":"2009-09-21T16:20:32","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=3926"},"modified":"2009-09-21T11:20:32","modified_gmt":"2009-09-21T16:20:32","slug":"usdjpy-pops-and-stalls-beneath-99-highs","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/09\/21\/usdjpy-pops-and-stalls-beneath-99-highs\/","title":{"rendered":"USD\/JPY Pops and Stalls Beneath 9\/9 Highs"},"content":{"rendered":"

By Fast Brokers <\/strong>– The USD\/JPY has experienced a nice pop as the Dollar experiences broad-based strength.\u00a0 The lack of economic data is allowing investors to take profits, and in this case snatch up an oversold Yen.\u00a0 The DPJ\u2019s more conservative fiscal approach is worrying investors slightly that the economic recovery taking root may be compromised if stimulus is withdrawn.\u00a0 The psychological uncertainty is giving investors a good reason to buy up a battered USD\/JPY.\u00a0 However, nothing has changed fundamentally, and the DPJ\u2019s conservative approach should actually favor a stronger Yen in the long run.\u00a0 Therefore, the USD\/JPY\u2019s present strength isn\u2019t convincing enough for us to change our bearish outlook trend-wise.\u00a0 We\u2019ve readjusted our trend lines, and our 3rd and 5th tier downtrend lines appear to be the more significant technical barriers since they run through September and 8\/24 highs, respectfully.\u00a0 Meanwhile, we notice technical supports in all of the USD\/JPY\u2019s negative correlations.\u00a0 Hence, with Japan on a National Holiday for the next two sessions, investors may wait for Wednesday\u2019s wave of econ data and central bank meetings before making any technically significant decisions.<\/p>\n

Japan will join the party Wednesday by releasing its Trade Balance.\u00a0 We believe Japan\u2019s Trade Balance will come in stronger than expected since China\u2019s TEU data continues to grow with the country\u2019s economic recovery running on schedule.\u00a0 Additionally, recent data from the U.S. has been stronger than expected; indicating demand for Japanese exports likely improved since the last time we received Trade Balance data.\u00a0 An outperformance of Japan\u2019s Trade Balance data would likely place further downward pressure on the USD\/JPY, corresponding with our expectations for strong EU PMI data and resulting outperformance in the Euro.\u00a0 In all, we maintain our negative outlook trend-wise on the USD\/JPY until the currency pair\u2019s aforementioned topside technical barriers are knocked out.\u00a0 As for the downside, our multiple uptrend lines should serve as reliable cushions while the highly psychological 90 level waits in the distance.<\/p>\n

Present Price: 92.26<\/p>\n

Resistances:\u00a0 92.51, 92.75, 92.93, 93.16, 93.31<\/p>\n

Supports:\u00a0 92.23, 92.04, 91.84, 91.61, 91.42<\/p>\n

Psychological: 90<\/p>\n

\"\"<\/a><\/p>\n

Market Commentary<\/strong><\/em> provided by Fast Brokers<\/strong><\/span><\/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 has experienced a nice pop as the Dollar experiences broad-based strength.\u00a0 The lack of economic data is allowing investors to take profits, and in this case snatch up an oversold Yen.\u00a0 The DPJ\u2019s more conservative fiscal approach is worrying investors slightly that the economic recovery taking root may be … <\/p>\n

Continue reading “USD\/JPY Pops and Stalls Beneath 9\/9 Highs”<\/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-3926","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/3926","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=3926"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/3926\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=3926"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=3926"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=3926"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}