{"id":6868,"date":"2010-02-16T12:58:01","date_gmt":"2010-02-16T17:58:01","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=6868"},"modified":"2010-02-16T12:58:01","modified_gmt":"2010-02-16T17:58:01","slug":"usdjpy-hovers-around-90","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/02\/16\/usdjpy-hovers-around-90\/","title":{"rendered":"USD\/JPY Hovers Around 90"},"content":{"rendered":"

By Fast Brokers<\/strong> – The USD\/JPY continues to hover around its psychological 90 level while showing a muted reaction to yesterday\u2019s GDP data.\u00a0 Although Japan\u2019s GDP surpassed expectations by a basis point, the previous release was revised downward by 1.2%.\u00a0 More importantly, the GDP Deflator came in at a staggering -3%.\u00a0 Hence, deflationary pressures continue to wear on Japan\u2019s economy and the decline in prices is likely on the minds of BoJ officials considering they have declared their intent to fight deflation.\u00a0 Therefore, it will be interesting to see how Japan\u2019s monetary policy decision pans out during Thursday\u2019s Asia trading session.\u00a0 Meanwhile, investors are awaiting more U.S. economic data, including the Empire Index and TIC Long-Term Purchases.\u00a0 Furthermore, investor uncertainty remains regarding the debt issues in the EU along with monetary tightening in China. Investors are expecting Japan\u2019s Tertiary Industry Activity to remain at -.2% tomorrow.\u00a0 For the time being, it seems the USD\/JPY is content with hovering around 90 until either the BoJ becomes more active or there is a shift in overall investor sentiment regarding the Dollar.\u00a0 That being said, the USD\/JPY has built a little upward momentum since bottoming in February by setting higher lows since 2\/4.<\/p>\n

Technically speaking, the USD\/JPY has multiple downtrend lines serving as technical barriers along with 2\/12 and 1\/28 highs.\u00a0 As for the downside, the USD\/JPY has multiple uptrend lines serving as technical cushions along with intraday, 2\/11, and 2\/10 lows.\u00a0 Meanwhile, the highly psychological 90 area could continue to play a key role.<\/p>\n

Present Price: 89.90<\/p>\n

Resistances: 89.99, 90.07, 90.20, 90.32, 90.42, 90.55<\/p>\n

Supports: 89.86, 89.72, 89.62., 89.50, 89.37, 89.31<\/p>\n

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

(click chart to enlarge)<\/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 continues to hover around its psychological 90 level while showing a muted reaction to yesterday\u2019s GDP data.\u00a0 Although Japan\u2019s GDP surpassed expectations by a basis point, the previous release was revised downward by 1.2%.\u00a0 More importantly, the GDP Deflator came in at a staggering -3%.\u00a0 Hence, deflationary pressures continue … <\/p>\n

Continue reading “USD\/JPY Hovers Around 90”<\/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-6868","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/6868","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=6868"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/6868\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=6868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=6868"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=6868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}