{"id":4842,"date":"2009-11-16T12:04:54","date_gmt":"2009-11-16T17:04:54","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=4842"},"modified":"2009-11-16T12:04:54","modified_gmt":"2009-11-16T17:04:54","slug":"usdjpy-drifts-lower-after-gdp-tops-expectations","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/11\/16\/usdjpy-drifts-lower-after-gdp-tops-expectations\/","title":{"rendered":"USD\/JPY Drifts Lower After GDP Tops Expectations"},"content":{"rendered":"

By Fast Brokers <\/strong>– The USD\/JPY is drifting lower today following stronger than expected Prelim GDP data from Japan.\u00a0 Furthermore, although the headline U.S. Retail Sales data topped expected, the Core number underperformed.\u00a0 Altogether, this could be a negative catalyst for the USD\/JPY.\u00a0 The outperformance of Japan\u2019s GDP could lead investors to favor the Yen over the Dollar considering America\u2019s data continues to roll in negatively mixed.\u00a0 Furthermore, the positive headline Retail Sales figure could bode well for Japanese automakers, thereby benefiting Japan\u2019s economy and consequently the Yen.\u00a0 However, the S&P futures are currently climbing past previous 2009 highs as investors take the mixed U.S. data in stride.\u00a0 Therefore, it will be interesting to see how the USD\/JPY reacts to both positive Japanese data along with a bullish technical move in U.S. equities.\u00a0 There\u2019s a possibility the two developments could counterbalance one another and leave the USD\/JPY around its highly psychological 90 level for the time being.\u00a0 However, we\u2019ll just have to wait and see how the session pans out.<\/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: 89.47<\/p>\n

Resistances: 89.54, 89.68, 89.83, 89.98, 90.07, 90.20, 90.39<\/p>\n

Supports:\u00a0 89.41, 89.26, 89.15, 88.99, 88.85, 88.73, 88.58<\/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 is drifting lower today following stronger than expected Prelim GDP data from Japan.\u00a0 Furthermore, although the headline U.S. Retail Sales data topped expected, the Core number underperformed.\u00a0 Altogether, this could be a negative catalyst for the USD\/JPY.\u00a0 The outperformance of Japan\u2019s GDP could lead investors to favor the Yen … <\/p>\n

Continue reading “USD\/JPY Drifts Lower After GDP Tops Expectations”<\/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-4842","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/4842","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=4842"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/4842\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=4842"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=4842"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=4842"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}