{"id":6421,"date":"2010-02-01T11:55:18","date_gmt":"2010-02-01T16:55:18","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=6421"},"modified":"2010-02-01T11:55:18","modified_gmt":"2010-02-01T16:55:18","slug":"usdjpy-fluctuates-around-90-2","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/02\/01\/usdjpy-fluctuates-around-90-2\/","title":{"rendered":"USD\/JPY Fluctuates Around 90"},"content":{"rendered":"

By Fast Brokers<\/strong> – The USD\/JPY is hovering around its highly psychological 90 area as investors await America\u2019s ISM Manufacturing PMI number.\u00a0 The USD\/JPY rallied in reaction to Friday\u2019s stronger than expected U.S. economic data.\u00a0 Therefore, another positive reading today could yield further topside movements in the currency pair.\u00a0 However, the USD\/JPY still faces a wealth of topside technical barriers and it has a ways to go to remove the grips of its downtrend.\u00a0 Meanwhile, although China\u2019s slightly weaker than expected Manufacturing PMI did illicit a little topside movement in the USD\/JPY, the activity was not much to speak of.\u00a0 However, volatility could pick up during tomorrow\u2019s Asia trading session with the RBA making a monetary policy decision.\u00a0 Though analyst are expecting a 25 basis point hike, the RBA could go either way since recent tightening from China and weak Australia PPI has placed a bit of pressure on the central bank.\u00a0 Japan will also release Cash Earnings data during tomorrow\u2019s Asia trading session and investors are expecting a decline of -2.6%.\u00a0 Attention should remain on Australia and the U.S. for the next 24 hours with America also releasing Pending Home Sales tomorrow.<\/p>\n

Technically speaking, the USD\/JPY has multiple uptrend lines serving as technical cushions along with 1\/28 and 1\/22 lows.\u00a0 As for the topside, the USD\/JPY faces multiple downtrend lines along with 1\/29 and 1\/20 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: 90.28<\/p>\n

Resistances: 90.46, 90.56, 90.67, 90.90, 91.04, 91.24<\/p>\n

Supports: 90.22, 90.08, 89.97, 89.77, 89.58, 89.36<\/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 is hovering around its highly psychological 90 area as investors await America\u2019s ISM Manufacturing PMI number.\u00a0 The USD\/JPY rallied in reaction to Friday\u2019s stronger than expected U.S. economic data.\u00a0 Therefore, another positive reading today could yield further topside movements in the currency pair.\u00a0 However, the USD\/JPY still faces a … <\/p>\n

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