{"id":6550,"date":"2010-02-04T13:15:43","date_gmt":"2010-02-04T18:15:43","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=6550"},"modified":"2010-02-04T13:15:43","modified_gmt":"2010-02-04T18:15:43","slug":"usdjpy-relatively-calm-as-dollar-soars-across-the-board","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/02\/04\/usdjpy-relatively-calm-as-dollar-soars-across-the-board\/","title":{"rendered":"USD\/JPY Relatively Calm as Dollar Soars Across the Board"},"content":{"rendered":"

By Fast Brokers<\/strong> – The USD\/JPY is registering only a moderate decline today as the Dollar surges against the Euro, Pound, and Aussie.\u00a0 Investors are rushing to the Dollar as a safe haven amid neutral monetary policy statements from European central banks combined with weak economic data around the globe.\u00a0 Both the BoE and ECB kept the monetary policies on hold as central banks take a wait and see approach in regards to the health of the global economic.\u00a0 Debt issues in Greece and tighter monetary policy in China has caused central bankers to omit hawkish comments as they monitor how these negative economic developments will impact global growth.\u00a0 Meanwhile, negative data from the U.S. and UK has only fueled the Dollar\u2019s climb, causing large pullbacks in the Cable and EUR\/USD.\u00a0 However, the USD\/JPY is holding up relatively well since Japan has been quiet on the data front and the BoJ continues to state that it will fight deflationary forces.\u00a0 Hence, the loose monetary policy stances from the BoJ and Fed are offsetting each other, providing a bit of stability for the USD\/JPY.\u00a0 However, today\u2019s negative U.S. data is leading to slight declines in the currency pair.\u00a0 Therefore, investors should monitor tomorrow\u2019s U.S. Unemployment Rate and Non-Farm Employment Change data tomorrow.<\/p>\n

Technically speaking, the USD\/JPY has multiple uptrend lines serving as technical cushions along with 2\/3 and 2\/1 lows.\u00a0 As for the topside, the USD\/JPY faces multiple downtrend lines along with 2\/1 and 2\/3 highs.\u00a0 Meanwhile, the USD\/JPY is fighting to create some topside separation between price and the psychological 90 level.\u00a0 That being said, the psychological 90 level could serve as a solid technical support should it be tested.<\/p>\n

Present Price: 90.44<\/p>\n

Resistances: 90.55, 90.70, 90.84, 90.95, 91.07, 91.21<\/p>\n

Supports: 90.28, 90.12, 89.97, 89.76, 89.54<\/p>\n

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

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

(click chart 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 registering only a moderate decline today as the Dollar surges against the Euro, Pound, and Aussie.\u00a0 Investors are rushing to the Dollar as a safe haven amid neutral monetary policy statements from European central banks combined with weak economic data around the globe.\u00a0 Both the BoE and ECB … <\/p>\n

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