{"id":6658,"date":"2010-02-08T13:33:44","date_gmt":"2010-02-08T18:33:44","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=6658"},"modified":"2010-02-08T13:33:44","modified_gmt":"2010-02-08T18:33:44","slug":"usdjpy-fluctuates-beneath-90","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/02\/08\/usdjpy-fluctuates-beneath-90\/","title":{"rendered":"USD\/JPY Fluctuates Beneath 90"},"content":{"rendered":"

By Fast Brokers<\/strong> – The USD\/JPY is fluctuating below the highly psychological 90 level as FX markets cool down in the wake of last week\u2019s heavy volatility.\u00a0 Although the USD\/JPY was holding up relatively well, the currency pair finally gave in to downward forces as investors exited the risk trade in a flurry.\u00a0 Debt scares in Greece and Portugal combined with mixed global economic data sent bulls to the exits with the Cable and EUR\/USD registering hefty pullbacks.\u00a0 The USD\/JPY was performing relatively well for a while since the BoJ\u2019s dedication to fight deflation managed to counter the flight to the Dollar.\u00a0 Furthermore, recalls from Toyota has placed a downward pressure on Japanese equites, a negative development for the Yen.\u00a0 However, the USD\/JPY slid late Thursday as the decline in the risk trade accelerated and the USD\/JPY is currently attempting to stabilize.\u00a0 The data wire will be relatively quiet until China\u2019s New Loans and Trade Balance data.\u00a0 Japan will also release Core Machinery Orders data during Wednesday\u2019s Asia trading session, giving investors an idea of how industrial production is faring.\u00a0 Meanwhile, investors should keep an eye on the news wire for further developments in the EU regarding Greece\u2019s fiscal woes.<\/p>\n

Technically speaking, the USD\/JPY still has multiple uptrend lines serving as technical cushions along with 1\/27, 2\/5 and 2\/4 lows.\u00a0 As for the topside, the USD\/JPY faces multiple downtrend lines along with 2\/5 highs and the highly psychological 90 area.<\/p>\n

Present Price: 89.25<\/p>\n

Resistances: 89.40, 89.54, 89.72, 89.88, 89.99, 90.08<\/p>\n

Supports: 89.13., 89.00, 88.89, 88.78, 88.63, 88.53<\/p>\n

Psychological: 90, February 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 fluctuating below the highly psychological 90 level as FX markets cool down in the wake of last week\u2019s heavy volatility.\u00a0 Although the USD\/JPY was holding up relatively well, the currency pair finally gave in to downward forces as investors exited the risk trade in a flurry.\u00a0 Debt scares … <\/p>\n

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