{"id":6340,"date":"2010-01-28T12:40:48","date_gmt":"2010-01-28T17:40:48","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=6340"},"modified":"2010-01-28T12:40:48","modified_gmt":"2010-01-28T17:40:48","slug":"usdjpy-at-90-as-investors-digest-data-and-news","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/01\/28\/usdjpy-at-90-as-investors-digest-data-and-news\/","title":{"rendered":"USD\/JPY At 90 As Investors Digest Data and News"},"content":{"rendered":"

By Fast Brokers <\/strong>– The USD\/JPY logged solid gains over the past 24 hours with the risk trading getting a boost from a positive reaction to Obama\u2019s State of the Union.\u00a0 Furthermore, the Fed\u2019s commitment to a loose monetary policy helped fuel the risk trade.\u00a0 Meanwhile, Japan released weaker than expected Retail Sales data, leading investors to prefer the Dollar over the Yen.\u00a0 However, the USD\/JPY is relinquishing some of its gains as the risk trade gets knocked by more negatively mixed U.S. economic data.\u00a0 Weekly Unemployment Claims printed higher than analyst expectations, adding onto yesterday\u2019s disappointing New Home Sales number.\u00a0 Furthermore, Durable Goods Orders came in weaker than expected while the Core DGO number surpassed expectations.\u00a0 This tells us that although consumption is improving, demand for autos is waning.\u00a0 Such a development could be negative news for Japanese manufacturers especially considering all of the recalls Toyota is making right now.\u00a0 Meanwhile, Japan will release a large set of data during tomorrow\u2019s Asia trading session, including Household Spending, CPI, Prelim Industrial Production, and meeting minutes from the BoJ\u2019s policy meeting this week.\u00a0 Investors will be looking to see whether the BoJ hinted at any inclination to loosen liquidity to fight deflationary forces.\u00a0 Furthermore, during the U.S. trading session investors will receive Prelim GDP data.\u00a0 Hence, the USD\/JPY could remain very active as the trading week comes to a close.<\/p>\n

Technically speaking, the USD\/JPY has multiple uptrend lines serving as technical cushions along with 1\/22 and 1\/26 lows.\u00a0 As for the topside, the USD\/JPY faces multiple downtrend lines along with intraday and 12\/18 highs.\u00a0 Furthermore, the .90 area could continue to have a psychological influence on the USD\/JPY over the near-term.<\/p>\n

Present Price: 90.06<\/p>\n

Resistances: 90.22, 90.39, 90.57, 90.75, 90.90, 91.05<\/p>\n

Supports: 89.95, 89.72, 89.55, 89.36, 89.21, 89.02<\/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 logged solid gains over the past 24 hours with the risk trading getting a boost from a positive reaction to Obama\u2019s State of the Union.\u00a0 Furthermore, the Fed\u2019s commitment to a loose monetary policy helped fuel the risk trade.\u00a0 Meanwhile, Japan released weaker than expected Retail Sales data, leading … <\/p>\n

Continue reading “USD\/JPY At 90 As Investors Digest Data and 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-6340","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/6340","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=6340"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/6340\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=6340"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=6340"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=6340"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}