{"id":5225,"date":"2009-12-10T13:11:24","date_gmt":"2009-12-10T18:11:24","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=5225"},"modified":"2009-12-10T13:11:24","modified_gmt":"2009-12-10T18:11:24","slug":"usdjpy-stabilizes-above-88","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/12\/10\/usdjpy-stabilizes-above-88\/","title":{"rendered":"USD\/JPY Stabilizes above 88"},"content":{"rendered":"

By Fast Brokers<\/strong> – The USD\/JPY is recovering rather well from yesterday\u2019s lows as the currency pair benefits from an improvement in the risk trade.\u00a0 The USD\/JPY is moving back towards Wednesday highs as investors await tomorrow\u2019s key data releases from China and the U.S.\u00a0\u00a0 China will print a set of key data during tomorrow\u2019s Asia trading session, including Industrial Production and Trade Balance figures.\u00a0 Continual improvement in China\u2019s economic performance could give a much needed boost to the risk trade.\u00a0 Yen investors will be paying particularly close attention to China\u2019s data since it is Japan\u2019s top trading partner. Afterwards, investors will be honing in on U.S. Retail Sales and UoM Consumer Sentiment data.\u00a0 Since U.S. employment data took a turn for the better last Friday, investors will be watching to see if the uptick in employment resulted in greater consumption.\u00a0 However, it will be interesting to see what impact tomorrow\u2019s U.S. econ data has on the Dollar should it print positively.\u00a0 Last Friday the Greenback underwent a large wave of appreciation in reaction to the employment data as investors speculated that the Fed may raise rates sooner than expected.\u00a0 Therefore, investors should monitor the Dollar\u2019s reaction to tomorrow\u2019s data releases carefully.<\/p>\n

Technically speaking, the USD\/JPY is still trading well below its highly psychological 90 level despite last Friday\u2019s pop above.\u00a0 Therefore, the currency pair still has its fair share of topside technicals to deal with before creating a more solid uptrend.\u00a0 That being said, longer-term downtrend forces remain.\u00a0 As for the downside, the USD\/JPY is presently testing the patience of our 3rd and 4th tier uptrend lines along.\u00a0 However, the USD\/JPY does have additional technical cushions waiting nearby in the form of 11\/25 and 12\/01 lows.\u00a0 Should conditions deteriorate further, the USD\/JPY has our 1st and 2nd tier uptrend lines serving as supports along with November lows and the psychological 85 level.<\/p>\n

Present Price: 88.33<\/p>\n

Resistances: 88.33, 88.48, 88.67, 88.86, 89.12, 89.41<\/p>\n

Supports: 88.07, 87.82, 87.66, 87.50, 87.32, 87.11<\/p>\n

Psychological: 90, December Highs and 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 recovering rather well from yesterday\u2019s lows as the currency pair benefits from an improvement in the risk trade.\u00a0 The USD\/JPY is moving back towards Wednesday highs as investors await tomorrow\u2019s key data releases from China and the U.S.\u00a0\u00a0 China will print a set of key data during tomorrow\u2019s … <\/p>\n

Continue reading “USD\/JPY Stabilizes above 88”<\/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-5225","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5225","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=5225"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5225\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=5225"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=5225"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=5225"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}