{"id":5771,"date":"2010-01-11T12:09:43","date_gmt":"2010-01-11T17:09:43","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=5771"},"modified":"2010-01-11T12:09:43","modified_gmt":"2010-01-11T17:09:43","slug":"usdjpy-remains-calm-despite-volatility-around-the-fx-market","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/01\/11\/usdjpy-remains-calm-despite-volatility-around-the-fx-market\/","title":{"rendered":"USD\/JPY Remains Calm Despite Volatility Around the FX Market"},"content":{"rendered":"

By Fast Brokers <\/strong>– The USD\/JPY is moving sideways today despite volatility around the FX market in response to China\u2019s solid Trade Balance data.\u00a0 The huge increase in China\u2019s imports is certainly an encouraging sign for Japanese exporters and manufacturers.\u00a0 One may expect the USD\/JPY to decline with today\u2019s return to the risk trade in most major Dollar pairs.\u00a0 However, the USD\/JPY is about where we left it on Friday while trading above 1\/7 lows.\u00a0 On the other hand, the USD\/JPY may opt to participate with its broad-based Dollar correlation should the EUR\/USD and GBP\/USD extend their present gains beyond more topside technical barriers.\u00a0 The USD\/JPY\u2019s resilience may stem from last week\u2019s flip-flop from Japan\u2019s new Finance Minister Kan.\u00a0 Kan first sparked a rally by stating he favors a weaker Yen, yet revised his comments to display a preference for market-determined levels after the USD\/JPY broke through December \u201909 highs.\u00a0 Hence, investors may be holding pat on the USD\/JPY until they get a better idea of exactly where Kan stands.\u00a0 Meanwhile, the USD\/JPY could come back alive with tomorrow\u2019s U.S. Trade Balance data.\u00a0 Solid U.S. imports could further stoke optimism concerning a recovery in Japan\u2019s economy.<\/p>\n

Technically speaking, the USD\/JPY\u2019s uptrend is still intact and the currency pair is holding strong above previous January lows while setting higher lows.\u00a0 Meanwhile, the USD\/JPY faces topside technical barriers in the form of our multiple downtrend lines along with 1\/07 highs.\u00a0 Our 3rd tier downtrend line runs through August \u201909 levels.\u00a0 Hence, a clear breakout above this downtrend line could signal a more prolonged uptrend and a potential retest of the highly psychological 100 area over the medium-term.\u00a0 As for the downside, the USD\/JPY has multiple uptrend lines serving as technical cushions along with 1\/7, 1\/5, and 12\/24 lows.\u00a0 Furthermore, the psychological 90 area could serve as a technical cushion should conditions deteriorate.<\/p>\n

Present Price: 92.44<\/p>\n

Resistances: 92.47, 92.63, 92.83, 93.21, 93.44, 93.77<\/p>\n

Supports: 92.26, 92.04, 91.88, 91.45, 91.22<\/p>\n

Psychological: 95, 90, January and September Highs<\/p>\n

(click to enlarge)<\/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 moving sideways today despite volatility around the FX market in response to China\u2019s solid Trade Balance data.\u00a0 The huge increase in China\u2019s imports is certainly an encouraging sign for Japanese exporters and manufacturers.\u00a0 One may expect the USD\/JPY to decline with today\u2019s return to the risk trade in … <\/p>\n

Continue reading “USD\/JPY Remains Calm Despite Volatility Around the FX Market”<\/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-5771","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5771","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=5771"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5771\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=5771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=5771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=5771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}