{"id":4818,"date":"2009-11-13T12:33:23","date_gmt":"2009-11-13T17:33:23","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=4818"},"modified":"2009-11-13T12:33:23","modified_gmt":"2009-11-13T17:33:23","slug":"usdjpy-bottoms-out-above-1111-lows-as-investors-digest-data","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/11\/13\/usdjpy-bottoms-out-above-1111-lows-as-investors-digest-data\/","title":{"rendered":"USD\/JPY Bottoms Out Above 11\/11 Lows As Investors Digest Data"},"content":{"rendered":"

By Fast Brokers<\/strong> – The USD\/JPY has managed to bottom out above 11\/11 lows and our 2nd tier uptrend line despite a pullback during the Asia trading session.\u00a0 The USD\/JPY\u2019s behavior has been erratic lately as investors debate how to deal with the currency pair\u2019s highly psychological 90 level.\u00a0 Therefore, the USD\/JPY has been a tough read the last week as far as correlations are concerned.\u00a0 However, a near-term pattern could development at the beginning of next week with the release of Japan\u2019s Prelim GDP data along with U.S. Retail Sales.\u00a0 Stronger than expected GDP data combined with weak Retail Sales could lead investors to prefer the Yen over the Dollar, thereby weakening the USD\/JPY.\u00a0 Such an occurrence isn\u2019t out of the question considering China\u2019s Retail Sales and Industrial Production data outperformed earlier this week while America\u2019s UoM Consumer Sentiment number disappointed today.\u00a0 We\u2019ve witnessed an increase of import demand from China, and Japan likely benefitted from this development considering China is its largest trading partner.\u00a0 However, we will have to see how the data pans out before proceeded with more in-depth fundamental analysis.<\/p>\n

Meanwhile, the USD\/JPY still has our 1st and 2nd tier uptrend lines serving as technical supports along with 11\/11, 11\/02, and 10\/14 lows.\u00a0 Therefore, the USD\/JPY has quite a few technical cushions in place should conditions deteriorate.\u00a0 As for the topside, the USD\/JPY is still mired in its long-term downtrend and faces multiple downtrend lines along with 11\/12 and 11\/06 highs.\u00a0 Furthermore, the psychological 90 level serves as both a technical cushion and barrier.\u00a0 Therefore, the USD\/JPY may need a sizable jolt to proceed in a more definite direction.<\/p>\n

Present Price: 89.68<\/p>\n

Resistances: 89.77, 89.92, 90.04, 90.19, 90.31, 90.43, 90.58, 90.72<\/p>\n

Supports:\u00a0\u00a0 89.54, 89.43, 89.26, 89.15, 88.99, 88.85<\/p>\n

Psychological: 90, November and October Lows<\/p>\n

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

Market Commentary<\/strong><\/em> <\/span>provided by <\/span>Fast Brokers<\/strong><\/span><\/span>.<\/a><\/p>\n

Disclaimer:<\/strong> <\/span>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> <\/span>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 managed to bottom out above 11\/11 lows and our 2nd tier uptrend line despite a pullback during the Asia trading session.\u00a0 The USD\/JPY\u2019s behavior has been erratic lately as investors debate how to deal with the currency pair\u2019s highly psychological 90 level.\u00a0 Therefore, the USD\/JPY has been a … <\/p>\n

Continue reading “USD\/JPY Bottoms Out Above 11\/11 Lows As Investors Digest 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-4818","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/4818","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=4818"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/4818\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=4818"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=4818"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=4818"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}