{"id":6507,"date":"2010-02-03T11:52:00","date_gmt":"2010-02-03T16:52:00","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=6507"},"modified":"2010-02-03T11:52:00","modified_gmt":"2010-02-03T16:52:00","slug":"usdjpy-rallies-with-dollar","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/02\/03\/usdjpy-rallies-with-dollar\/","title":{"rendered":"USD\/JPY Rallies with Dollar"},"content":{"rendered":"

By Fast Brokers<\/strong> – The USD\/JPY is back on the rise as the Dollar appreciates across the board in reaction to a stronger than expected ADP Non-Farm Employment Change figure.\u00a0 The outperformance of recent U.S. economic data has led investors towards the Dollar amidst economic uncertainties taking root across the globe.\u00a0 The USD\/JPY is benefitting in particularly since Japan\u2019s recent economic data has left something to be desired.\u00a0 Additionally, recalls at Toyota combined with the BoJ\u2019s vocal determination to fight deflation has resulted inventors snapping up the Dollar against the Yen in light of economic improvements in the U.S.\u00a0 Investors are currently awaiting U.S. Services PMI data due shortly.\u00a0 Considering our analysis above, a positive Services PMI number could send the USD\/JPY beyond previous February highs.\u00a0 Meanwhile, both the BoE and ECB will make monetary policy decision tomorrow and the U.S. will release weekly Unemployment Claims data.\u00a0 Hence, volatility could remain at a heightened level across the FX market, the USD\/JPY included.<\/p>\n

Technically speaking, the USD\/JPY has multiple uptrend lines serving as technical cushions along with intraday and previous February lows.\u00a0 As for the topside, the USD\/JPY faces multiple downtrend lines along with 2\/1 and 1\/19 highs.\u00a0 Meanwhile, the USD\/JPY is fighting to create some topside separation between price and the psychological 90 level.<\/p>\n

Present Price: 90.80<\/p>\n

Resistances: 90.90, 91.07, 91.07, 91.24, 91.36, 91.47, 91.64<\/p>\n

Supports: 90.69, 90.58, 90.46, 90.28, 90.12, 89.97<\/p>\n

Psychological: 90, January highs and lows<\/p>\n

\"\"<\/a><\/p>\n

(click to enlarge)<\/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 back on the rise as the Dollar appreciates across the board in reaction to a stronger than expected ADP Non-Farm Employment Change figure.\u00a0 The outperformance of recent U.S. economic data has led investors towards the Dollar amidst economic uncertainties taking root across the globe.\u00a0 The USD\/JPY is benefitting … <\/p>\n

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