{"id":6052,"date":"2010-01-20T13:12:44","date_gmt":"2010-01-20T18:12:44","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=6052"},"modified":"2010-01-20T13:12:44","modified_gmt":"2010-01-20T18:12:44","slug":"usdjpy-strengthens-after-strong-u-s-building-permits","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/01\/20\/usdjpy-strengthens-after-strong-u-s-building-permits\/","title":{"rendered":"USD\/JPY Strengthens after Strong U.S. Building Permits"},"content":{"rendered":"

By Fast Brokers<\/strong> – The USD\/JPY has strengthened towards our 1st tier downtrend line after U.S. Building Permits data showed an encouraging improvement.\u00a0 Investors proceeded to snap up the Dollar across the board and sent gold tumbling.\u00a0 Improvements in the U.S. economy have led investors to prefer the Dollar over the Yen considering recent Japanese economic data has left something to be desired.\u00a0 Furthermore, investors should keep in mind that both the BoJ and Finance Ministry have reiterated their preference for a weaker Yen, implying the BoJ\u2019s monetary policy should remain loose for quite some time.\u00a0 Hence, more positive economic data streams from the U.S. could yield additional gains in the USD\/JPY over the near-term. That being said, the U.S. will release weekly Unemployment Claims and the Philly Manufacturing Index tomorrow.\u00a0 Meanwhile, attention will turn to China\u2019s economic data set being released during tomorrow\u2019s Asia trading session.\u00a0 China\u2019s economic data could increase volatility across the board considering the weight being placed on recent monetary policy action from the central bank.\u00a0 Therefore, volatility could remain at a heightened state over the next 24 hours.<\/p>\n

Technically speaking, the USD\/JPY has multiple uptrend lines serving as technical cushions along with intraday and 1\/19 lows and the highly psychological 90 level should it be tested.\u00a0 As for the topside, the USD\/JPY faces multiple downtrend lines along with 1\/14 and 1\/12 highs.<\/p>\n

Present Price: 91.32<\/p>\n

Resistances: 91.46, 91.63, 91.84, 92.04, 92.25, 92.46<\/p>\n

Supports: 91.12, 90.91, 90.75, 90.54, 90.37, 90.24<\/p>\n

Psychological: 90, January highs and lows<\/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 has strengthened towards our 1st tier downtrend line after U.S. Building Permits data showed an encouraging improvement.\u00a0 Investors proceeded to snap up the Dollar across the board and sent gold tumbling.\u00a0 Improvements in the U.S. economy have led investors to prefer the Dollar over the Yen considering recent Japanese … <\/p>\n

Continue reading “USD\/JPY Strengthens after Strong U.S. Building Permits”<\/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-6052","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/6052","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=6052"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/6052\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=6052"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=6052"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=6052"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}