{"id":7481,"date":"2010-03-10T13:35:58","date_gmt":"2010-03-10T18:35:58","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=7481"},"modified":"2010-03-10T13:35:58","modified_gmt":"2010-03-10T18:35:58","slug":"usdjpy-charges-higher","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/03\/10\/usdjpy-charges-higher\/","title":{"rendered":"USD\/JPY Charges Higher"},"content":{"rendered":"

The USD\/JPY is charging higher today as the currency pair continues its stellar performance.\u00a0 Japanese Core Machinery Orders printed about in line with expectations.\u00a0 Meanwhile, signs of an economic recovery in the U.S. are really benefitting the USD\/JPY since the BoJ continues to be one of the loosest central banks around.\u00a0 Hence, the USD\/JPY is enjoying a relative strength and continuing its run from March lows.\u00a0 The currency pair is back above its \"\"<\/a>highly psychological 90 level.\u00a0 That being said, the 90 area has had a considering influence on the USD\/JPY in the past, so investors shouldn\u2019t be surprised if the currency pair opts to gravitate around the psychological zone over the near-term.\u00a0 On the other hand, today\u2019s rally has extended the USD\/JPY beyond what is now our 1st tier downtrend line.\u00a0 Our 1st tier runs through 2\/17 highs, or the 91.40 area.\u00a0 Hence, the USD\/JPY could be in for additional solid upward movements should fundamentals comply.\u00a0 Therefore, investors should keep a sharp eye on tomorrow\u2019s U.S. Trade Balance and weekly Unemployment Claims releases.\u00a0 Positive U.S. economic data could push the USD\/JPY higher as investors favor the U.S. economy over Japan\u2019s.\u00a0 China will also release an important data set during tomorrow\u2019s Asia trading session, meaning the USD\/JPY could remain active for the next 24-48 hours.\u00a0 Keep in mind Japan will print its Real GDP tomorrow, and this fact shouldn\u2019t be lost amidst all the news releases from China and Australia.<\/p>\n

Technically speaking, the USD\/JPYs faces our new downtrend lines along with intraday and 2\/7 highs.\u00a0 Meanwhile, the highly psychological 90 area could have an influence over movements in the USD\/JPY over the near-term.\u00a0 As for the downside, the USD\/JPY has multiple uptrend lines serving as technical cushions along with intraday and 3\/8 lows.<\/p>\n

Present Price: 90.78<\/p>\n

Resistances: 90.81, 90.89, 90.94, 91.03, 91.11, 91.20<\/p>\n

Supports: 90.67, 90.60, 90.54, 90.49, 90.44, 90.35<\/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 charging higher today as the currency pair continues its stellar performance.\u00a0 Japanese Core Machinery Orders printed about in line with expectations.\u00a0 Meanwhile, signs of an economic recovery in the U.S. are really benefitting the USD\/JPY since the BoJ continues to be one of the loosest central banks around.\u00a0 Hence, the USD\/JPY is … <\/p>\n

Continue reading “USD\/JPY Charges Higher”<\/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-7481","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7481","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=7481"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7481\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=7481"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=7481"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=7481"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}