{"id":7353,"date":"2010-03-05T12:13:11","date_gmt":"2010-03-05T17:13:11","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=7353"},"modified":"2010-03-05T12:13:11","modified_gmt":"2010-03-05T17:13:11","slug":"usdjpy-rockets-higher-after-solid-u-s-data-releases","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/03\/05\/usdjpy-rockets-higher-after-solid-u-s-data-releases\/","title":{"rendered":"USD\/JPY Rockets Higher After Solid U.S. Data Releases"},"content":{"rendered":"

By Fast Brokers<\/strong> – The USD\/JPY is shooting higher again today in response to stronger than expected U.S. Non-Farm Employment Change and headline Unemployment Rate data.\u00a0 Today\u2019s reaction shows the USD\/JPY is more vulnerable to U.S. data releases than most currency pairs at the moment.\u00a0 Volatility in the USD\/JPY likely stems from a combination of oversold conditions and the realization that the Fed will likely tighten before the BoJ.\u00a0 The DPJ continues to pressure the BoJ to loosen liquidity further, yet the central bank is bucking back.\u00a0 On the other hand, today\u2019s solid U.S. employment data stirs speculation that the Fed could tighten alternative liquidity measures sooner than anticipated.\u00a0 Despite today\u2019s pop, the USD\/JPY still does face considerable downward forces considering the extent of its decline so far this year.\u00a0 Additionally, the currency pair must wrestle with its key 90 area one again.\u00a0 Japan will reenter the fray on during Wednesday\u2019s Asia trading session with the release of Core Machinery Orders.\u00a0 Additionally, China will be releasing some important data week and these figures could have a considerable influence on the Yen since China is Japan\u2019s top trading partner.\u00a0 Investors will be looking to see if tighter liquidity measures in China had an impact on economic growth.<\/p>\n

Technically speaking, this week\u2019s recovery is a welcome development considering the USD\/JPY\u2019s recent downturn.\u00a0 In fact, the USD\/JPY almost tested 88 before jolting back up above 89.\u00a0 However, the USD\/JPY still faces multiple downtrend lines along with February highs and the highly psychological 90 level.\u00a0 As for the downside, the USD\/JPY does have multiple uptrend lines serving as technical cushions along with 2\/24 and 2\/8 lows.\u00a0 Additionally, the psychological 90 level could have an influential role over near-term price action.<\/p>\n

Present Price: 90.20<\/p>\n

Resistances: 90.26, 90.35, 90.43, 90.56, 90.65, 90.81<\/p>\n

Supports: 90.11, 89.95, 89.81, 89.73, 89.64, 89.54<\/p>\n

Psychological: 90 March highs<\/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 shooting higher again today in response to stronger than expected U.S. Non-Farm Employment Change and headline Unemployment Rate data.\u00a0 Today\u2019s reaction shows the USD\/JPY is more vulnerable to U.S. data releases than most currency pairs at the moment.\u00a0 Volatility in the USD\/JPY likely stems from a combination of … <\/p>\n

Continue reading “USD\/JPY Rockets Higher After Solid U.S. Data Releases”<\/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-7353","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7353","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=7353"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7353\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=7353"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=7353"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=7353"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}