{"id":5385,"date":"2009-12-18T09:49:02","date_gmt":"2009-12-18T14:49:02","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=5385"},"modified":"2009-12-18T09:49:02","modified_gmt":"2009-12-18T14:49:02","slug":"usdjpy-pops-past-90","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/12\/18\/usdjpy-pops-past-90\/","title":{"rendered":"USD\/JPY Pops Past 90"},"content":{"rendered":"

By Fast Brokers<\/strong> – The USD\/JPY is popping past its highly psychological 90 level along with our 2nd and 3rd tier downtrend lines in reaction to the BoJ\u2019s monetary policy statement during the Asia trading session.\u00a0 The BoJ stated that it is steadfast on fighting deflation, meaning it could maintain its dovish monetary policy for quite some time.\u00a0 The BoJ\u2019s apparent commitment to its loose monetary policy, combined with recent broad based strength in the Dollar, are combining forces to send the USD\/JPY beyond some key topside technicals.\u00a0 Our 2nd and 3rd tier downtrend lines run through October lows.\u00a0 Hence, should the USD\/JPY create some topside separation, the currency pair could piece together a solid near-term run towards 92.\u00a0 That being said, the USD\/JPY still does face multiple downtrend lines along with previous December highs.\u00a0 Furthermore, the USD\/JPY\u2019s longer-term downtrend is still in play.\u00a0 Hence, the road higher could be a rocky ahead should positive the currency pair\u2019s momentum persist.\u00a0 Meanwhile investors should keep an eye on broad-based activity in the Dollar since the EUR\/USD and GBP\/USD dropped below some key uptrend lines yesterday.\u00a0 Further deterioration in these currency pairs could yield strength in the USD\/JPY.\u00a0\u00a0 Japan will kick off the Trading week during Monday\u2019s Asia trading session with the release of its Trade Balance.<\/p>\n

Technically speaking, the USD\/JPY faces topside technical barriers in the form of previous December highs along with our 4th and 5th tier downtrend lines.\u00a0 Furthermore, the psychological 90 area could still play a role considering how tough the trading zone has been to overcome in the past.\u00a0 As for the downside, the USD\/JPY has multiple uptrend lines serving as technical cushions along with intraday, 12\/14, and 12\/09 lows.\u00a0 Meanwhile, the psychological 90 level could begin to work as a technical cushion.<\/p>\n

Present Price: 90.42<\/p>\n

Resistances: 90.58, 90.76, 90.94, 91.05, 91.22, 91.39<\/p>\n

Supports: 90.36, 90.25, 90.10, 89.90, 89.75, 89.52<\/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 popping past its highly psychological 90 level along with our 2nd and 3rd tier downtrend lines in reaction to the BoJ\u2019s monetary policy statement during the Asia trading session.\u00a0 The BoJ stated that it is steadfast on fighting deflation, meaning it could maintain its dovish monetary policy for … <\/p>\n

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