{"id":5628,"date":"2010-01-04T10:29:58","date_gmt":"2010-01-04T15:29:58","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=5628"},"modified":"2010-01-04T10:29:58","modified_gmt":"2010-01-04T15:29:58","slug":"usdjpy-weakens-slight-as-gold-gains-and-dollar-weakens","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/01\/04\/usdjpy-weakens-slight-as-gold-gains-and-dollar-weakens\/","title":{"rendered":"USD\/JPY Weakens Slight as Gold Gains and Dollar Weakens"},"content":{"rendered":"

By Fast Brokers<\/strong> – The USD\/JPY is trading off December highs as the Dollar weakens across the board and gold bounces back above $1100\/oz.\u00a0 Hence, investors are showing a preference for the risk trading today following a positive set of economic data from the UK.\u00a0 Furthermore, the Development Bank of Japan announced it is extending a $2.2 billion credit line to Japan Airlines, thwarting fears of bankruptcy which sent the Yen tumbling last week.\u00a0 Meanwhile, investors are looking on to today\u2019s U.S. ISM Manufacturing PMI figure.\u00a0 Investors may be encouraged to buy up the USD\/JPY again should America\u2019s economic data outperform, while weakness in the U.S. economy could send investors back to the Yen for some safety.\u00a0 However, investors are likely focusing in on Wednesday\u2019s U.S. Non-Farm Employment Change number.\u00a0 The recovery in U.S. employment data triggered the Dollar\u2019s run during December.\u00a0 Therefore, this week\u2019s employment data could carry some additional weight.\u00a0 Japan will be quiet on the data-front this week, leaving its movements up to momentum and correlation.\u00a0 Hence, we\u2019ll monitor how the Yen behaves with the Dollar\u2019s broad-based reaction to upcoming data releases.<\/p>\n

Technically speaking, the USD\/JPY overcame some notable topside barriers during the month of December, most notably the psychological 90 level and a few heavily-weighted downtrend lines.\u00a0 Speaking of downtrend lines, our 2nd tier downtrend line could prove to be a key barrier since it runs through August \u201909 highs.\u00a0 Hence, an eclipse of our 2nd tier could potentially yield a medium-term run towards the 97.50 area.\u00a0 Meanwhile, the USD\/JPY does face multiple downtrend lines along with September highs and the psychological 95 zone.\u00a0 As for the downside, the USD\/JPY has multiple uptrend lines serving as technical cushions along with 12\/31 and 12\/24 lows.\u00a0 Furthermore, the psychological 90 area could serve as a suitable cushion should it be tested.<\/p>\n

Present Price: 92.83<\/p>\n

Resistances: 92.95, 93.14, 93.30, 93.59, 93.85, 94.02<\/p>\n

Supports: 92.61, 92.23, 91.95, 91.78, 91.57, 91.37<\/p>\n

Psychological: 95, 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 USD\/JPY is trading off December highs as the Dollar weakens across the board and gold bounces back above $1100\/oz.\u00a0 Hence, investors are showing a preference for the risk trading today following a positive set of economic data from the UK.\u00a0 Furthermore, the Development Bank of Japan announced it is extending … <\/p>\n

Continue reading “USD\/JPY Weakens Slight as Gold Gains and Dollar Weakens”<\/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-5628","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5628","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=5628"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5628\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=5628"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=5628"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=5628"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}