{"id":7427,"date":"2010-03-09T11:31:33","date_gmt":"2010-03-09T16:31:33","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=7427"},"modified":"2010-03-09T11:31:33","modified_gmt":"2010-03-09T16:31:33","slug":"usdjpy-trades-back-below-highly-psychological-90-level","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/03\/09\/usdjpy-trades-back-below-highly-psychological-90-level\/","title":{"rendered":"USD\/JPY Trades Back Below Highly Psychological 90 Level"},"content":{"rendered":"

The USD\/JPY is settling following Friday\u2019s impressive run on the heels of better than expected U.S. employment data.\u00a0 The data wire has been relatively quiet since then, allowing investors to lock in profits ahead of key release from China.\u00a0 China will print Trade Balance and New Loans data tomorrow followed by Industrial Production, CPI, and a host of \"\"<\/a>other data due during Thursday\u2019s Asia trading session.\u00a0 Japan will also release Core Machinery Orders tomorrow followed by Final GDP on Thursday.\u00a0 Hence, activity in the USD\/JPY could pick up soon after this breather.\u00a0 It will be interesting to see if the currency pair can pick up where it left off on Friday or whether it decides to revert back to the pressures of its downtrend.\u00a0 Weaker than expected data from Japan could help lift the USD\/JPY since investors may speculate that the BoJ will be more will to increase liquidity while the Fed stands still amid an improving U.S. economic landscape.\u00a0 On the other hand, weak Japanese economic data could keep the USD\/JPY buoyed around its highly psychological 90 area.\u00a0 The 90 level has been a struggle for some time now and there\u2019s little reason to believe this will end tomorrow.<\/p>\n

Technically speaking, the USD\/JPY still faces multiple downtrend lines along with the highly psychological level and previous March highs.\u00a0 In fact, the USD\/JPY still has to deal with February highs should the currency pair experience another near-term topside breakout.\u00a0 Hence, the USD\/JPY faces an uphill battle to the topside.\u00a0 As for the downside, the USD\/JPY has multiple uptrend lines serving as technical cushions along with intraday and 3\/5 lows.<\/p>\n

Present Price: 89.79<\/p>\n

Resistances: 89.81, 89.90, 90.98, 90.04, 90.11, 90.21<\/p>\n

Supports: 89.73, 89.64, 89.56, 89.46, 89.39, 89.31<\/p>\n

Psychological: 90, March highs<\/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":"

The USD\/JPY is settling following Friday\u2019s impressive run on the heels of better than expected U.S. employment data.\u00a0 The data wire has been relatively quiet since then, allowing investors to lock in profits ahead of key release from China.\u00a0 China will print Trade Balance and New Loans data tomorrow followed by Industrial Production, CPI, and … <\/p>\n

Continue reading “USD\/JPY Trades Back Below Highly Psychological 90 Level”<\/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-7427","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7427","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=7427"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7427\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=7427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=7427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=7427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}