{"id":4875,"date":"2009-11-17T11:37:10","date_gmt":"2009-11-17T16:37:10","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=4875"},"modified":"2009-11-17T11:37:10","modified_gmt":"2009-11-17T16:37:10","slug":"usdjpy-fluctuates-around-our-1st-and-2nd-tier-uptrend-lines","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/11\/17\/usdjpy-fluctuates-around-our-1st-and-2nd-tier-uptrend-lines\/","title":{"rendered":"USD\/JPY Fluctuates Around Our 1st and 2nd Tier Uptrend Lines"},"content":{"rendered":"

By Fast Brokers<\/strong> – The USD\/JPY is bouncing between our 1st and 2nd tier uptrend lines as investors digest the latest wave of U.S. econ data.\u00a0 Today\u2019s U.S. data printed negatively mixed once again, with TIC Long-Term Purchases proving to be the only winner.\u00a0 Meanwhile, investors shouldn\u2019t forget that Japan\u2019s Prelim GDP topped expectations by 5 basis points to kick off the week.\u00a0 Therefore, one may expect investors to send the USD\/JPY lower due to a more favorable outlook for the Yen as compared to the Dollar.\u00a0 However, the USD\/JPY is proving to be resilient above our 1st tier uptrend line since the currency pair is drifting closer to a retracement towards October lows.\u00a0 Meanwhile, it seems are paying closer attention to the S&P\u2019s ongoing interaction with its highly psychological 1100 level.\u00a0 The USD\/JPY\u2019s correlative behavior has been erratic lately, making this major Dollar cross a tougher read these days.\u00a0 Regardless, there is still a long-term downtrend at play and our technical cushions are wearing thin.<\/p>\n

Technically speaking, the USD\/JPY is presently fighting to stay above our 1st and 2nd tier uptrend lines.\u00a0 Should our 1st tier give way, the currency pair still has 10\/2 lows along with October lows serving as technical cushions.\u00a0 As for the topside, the USD\/JPY faces multiple downtrend lines along with the highly psychological 90 level.\u00a0 Therefore, quite a few topside challenges are in place.\u00a0 Meanwhile, the U.S. will release CPI and Building Permits data on Wednesday, meaning overall activity in the FX market could pick up.<\/p>\n

Present Price: 89.23<\/p>\n

Resistances: 89.31, 89.41, 89.54, 89.68, 89.83, 89.89, 90.07<\/p>\n

Supports:\u00a0 89.15, 88.99, 88.85, 88.73, 88.58, 88.44<\/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 bouncing between our 1st and 2nd tier uptrend lines as investors digest the latest wave of U.S. econ data.\u00a0 Today\u2019s U.S. data printed negatively mixed once again, with TIC Long-Term Purchases proving to be the only winner.\u00a0 Meanwhile, investors shouldn\u2019t forget that Japan\u2019s Prelim GDP topped expectations by … <\/p>\n

Continue reading “USD\/JPY Fluctuates Around Our 1st and 2nd Tier Uptrend Lines”<\/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-4875","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/4875","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=4875"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/4875\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=4875"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=4875"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=4875"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}