{"id":5331,"date":"2009-12-16T11:28:13","date_gmt":"2009-12-16T16:28:13","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=5331"},"modified":"2009-12-16T11:28:13","modified_gmt":"2009-12-16T16:28:13","slug":"usdjpy-fluctuates-below-90-as-investors-await-fed","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/12\/16\/usdjpy-fluctuates-below-90-as-investors-await-fed\/","title":{"rendered":"USD\/JPY Fluctuates Below 90 as Investors Await Fed"},"content":{"rendered":"

By Fast Brokers<\/strong> – The USD\/JPY is consolidating just below its highly psychological 90 level as investors await the Fed\u2019s monetary policy decision this afternoon EST.\u00a0 Today\u2019s U.S. econ data printed about in line with analyst expectations while EU PMI and UK CCC data points outperformed.\u00a0 However, besides considerable strength in the Pound today, the major Dollar pairs are moving sideways as investors anticipate the Fed.\u00a0 That being said, investors have priced in a more hawkish Fed over the past couple weeks due to impressive U.S. employment and consumption data.\u00a0 However, should the Fed downplay the recent performance of these positive data points and maintain its full commitment to a loose monetary policy then we may witness a pop in the risk trade, a negative catalyst for the USD\/JPY.\u00a0 On the other hand, should the Fed actually make its stance a little tighter then the FX markets could experience another wave of Dollar buying, likely a positive development for the USD\/JPY.\u00a0 Either way, the FX markets could be in for a bit of volatility over the next 24 hours as investors digest the Fed\u2019s decision.\u00a0 Meanwhile, the Japanese wire will remain quiet until Friday\u2019s BoJ Press Conference, meaning the USD\/JPY\u2019s performance should follow the path of the Dollar for the time being.<\/p>\n

Technically speaking, the USD\/JPY is battling with the highly psychological 90 area once again, a worthy topside foe.\u00a0 Furthermore, the USD\/JPY faces multiple downtrend lines along with previous December highs.\u00a0 As for the downside, the USD\/JPY has multiple uptrend lines serving as technical cushions along with 12\/14 and 12\/09 lows.<\/p>\n

Present Price: 89.74<\/p>\n

Resistances: 89.78, 89.89, 90.01, 90.25, 90.39, 90.58<\/p>\n

Supports: 89.35, 89.14, 88.99, 88.77, 88.60, 88.34<\/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 consolidating just below its highly psychological 90 level as investors await the Fed\u2019s monetary policy decision this afternoon EST.\u00a0 Today\u2019s U.S. econ data printed about in line with analyst expectations while EU PMI and UK CCC data points outperformed.\u00a0 However, besides considerable strength in the Pound today, the … <\/p>\n

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