{"id":7568,"date":"2010-03-15T08:26:24","date_gmt":"2010-03-15T13:26:24","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=7568"},"modified":"2010-03-15T08:26:24","modified_gmt":"2010-03-15T13:26:24","slug":"usdjpy-consolidates-above-90-3","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/03\/15\/usdjpy-consolidates-above-90-3\/","title":{"rendered":"USD\/JPY Consolidates Above 90"},"content":{"rendered":"

By Fast Brokers<\/strong> – The USD\/JPY is consolidating above its psychological 90 level after Friday\u2019s wild fluctuations in the wake of U.S. consumption data.\u00a0 Although the USD\/JPY popped after stronger than expected Retail Sales figures, the currency pair\u2019s upward momentum was stifled by a disappointing UoM Consumer Sentiment figure.\u00a0 However, the USD\/JPY has managed to avoid a retest of 90 in the process and its upward momentum stemming from March lows is still intact.\u00a0 The USD\/JPY peaked above our 3rd tier downtrend line on Friday, a development worth mentioning since it runs through 2\/22 highs, or the 91.70 level.\u00a0 Hence, the USD\/JPY could be in for more near-term gains should U.S. economic data print favorably.\u00a0 Since the BoJ has been more dovish than the Fed, positive U.S. data benefits the USD\/JPY due to speculation that the Fed will tighten before the BoJ.\u00a0 That being said, there\u2019s an FOMC meeting on Tuesday and it will be interesting to see whether the central bank makes any adjustments to its monetary policy language.\u00a0 If the Fed should exert a more hawkish stance this could also benefit the USD\/JPY.\u00a0 Meanwhile, the U.S. will release a data set today, including the Empire Index, Industrial Production, TIC Long-Term Purchases and the Capacity Utilization Rate.\u00a0 Hence, volatility could pick up as the trading session progresses.<\/p>\n

Technically speaking, the USD\/JPY faces our new downtrend lines along with 3\/12 and 2\/17 highs.\u00a0 Meanwhile, the highly psychological 90 area could have an influence over the USD\/JPY\u2019s movements for the near-term.\u00a0 As for the downside, the USD\/JPY has multiple uptrend lines serving as technical cushions along with 3\/15 and 3\/9 lows.<\/p>\n

Present Price: 90.68<\/p>\n

Resistances: 90.69, 90.81, 90.89, 90.95, 91.04, 91.11<\/p>\n

Supports: 90.61, 90.54, 90.45, 90.35, 90.29, 90.17<\/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":"

By Fast Brokers – The USD\/JPY is consolidating above its psychological 90 level after Friday\u2019s wild fluctuations in the wake of U.S. consumption data.\u00a0 Although the USD\/JPY popped after stronger than expected Retail Sales figures, the currency pair\u2019s upward momentum was stifled by a disappointing UoM Consumer Sentiment figure.\u00a0 However, the USD\/JPY has managed to … <\/p>\n

Continue reading “USD\/JPY Consolidates Above 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-7568","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7568","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=7568"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7568\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=7568"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=7568"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=7568"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}