{"id":5591,"date":"2009-12-30T11:55:03","date_gmt":"2009-12-30T16:55:03","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=5591"},"modified":"2009-12-30T11:55:03","modified_gmt":"2009-12-30T16:55:03","slug":"usdjpy-underperforms-in-reaction-to-japan-airlines-news","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/12\/30\/usdjpy-underperforms-in-reaction-to-japan-airlines-news\/","title":{"rendered":"USD\/JPY Underperforms in Reaction to Japan Airlines News"},"content":{"rendered":"

By Fast Brokers<\/strong> – The Dollar is continuing its strong performance against the Yen as investors speculate that Japan Airlines will need to file for bankruptcy.\u00a0 This piece of negative corporate news is fueling the Yen\u2019s weakness as investors expect more tough times ahead for Japan\u2019s economy.\u00a0 Furthermore, the Yen has already been placed at a disadvantage by the BoJ\u2019s recent promise to fight deflation, indicating a loose monetary policy for the foreseeable future.\u00a0 That being said, the USD\/JPY may refrain from tackling too many topside barriers due to light activity in the wake of a holiday-shortened week.\u00a0 Investors that are in the game today are currently reacting to a stronger than expected Chicago PMI figure.\u00a0 Another positive U.S. data release could help the USD\/JPY tack onto intraday gains as the session progresses and investors digest the negative news concerning Japan Airlines.\u00a0 Meanwhile, the data wire will continue to quiet down with weekly U.S. Unemployment Claims on deck as usual.\u00a0 However, China will slip in some Manufacturing PMI data on January 1st, and any surprising developments could have an impact on the Yen as investors return to action next week.<\/p>\n

Technically speaking, the USD\/JPY has overcome more key technical levels, including our previous 2nd and 3rd tier downtrend lines along with October highs.\u00a0 The currency pair is presently battling September highs.\u00a0 The USD\/JPY\u2019s eclipse of our downtrend lines is sending a message that the currency pair could be in for further gains over the medium-term towards the highly psychological 100 area. As for the downside, the USD\/JPY has multiple uptrend lines serving as technical cushions along with 12\/29, 12\/24, and 12\/21 lows.\u00a0 Furthermore, the highly psychological 90 level could serve as a strong support area should it be tested.<\/p>\n

Present Price: 92.49<\/p>\n

Resistances: 92.61, 92.80, 93.04, 93.30, 93.59, 93.85<\/p>\n

Supports: 92.23, 92.01, 91.78, 91.60, 91.36, 91.13<\/p>\n

Psychological: 90, September Highs<\/p>\n

\"\"<\/a><\/p>\n

Market Commentary<\/strong><\/em> provided by Fast Brokers<\/strong>.<\/a><\/p>\n

Disclaimer:<\/strong> 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> 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 Dollar is continuing its strong performance against the Yen as investors speculate that Japan Airlines will need to file for bankruptcy.\u00a0 This piece of negative corporate news is fueling the Yen\u2019s weakness as investors expect more tough times ahead for Japan\u2019s economy.\u00a0 Furthermore, the Yen has already been placed at … <\/p>\n

Continue reading “USD\/JPY Underperforms in Reaction to Japan Airlines News”<\/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-5591","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5591","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=5591"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5591\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=5591"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=5591"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=5591"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}