{"id":7615,"date":"2010-03-16T10:38:01","date_gmt":"2010-03-16T14:38:01","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=7615"},"modified":"2010-03-16T10:38:01","modified_gmt":"2010-03-16T14:38:01","slug":"usdjpy-retests-90-ahead-of-fomc","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/03\/16\/usdjpy-retests-90-ahead-of-fomc\/","title":{"rendered":"USD\/JPY Retests 90 Ahead of FOMC"},"content":{"rendered":"

By Fast Brokers<\/strong><\/a><\/strong> – The USD\/JPY is retesting its highly psychological 90 level as the Dollar pulls back across the board ahead of the FOMC.\u00a0 Investors will be paying close attention to the Fed\u2019s statement to see whether the central bank alters its dovish language.\u00a0 Should there be any alteration, this could spur a Dollar rally and benefit the USD\/JPY.\u00a0 However, if the Fed keeps its loose policy statement intact, the risk trade could bounce in anticipation of more cheap money in the U.S.\u00a0 The U.S. will also release building permits data today, meaning that either way the FX markets could be in for an active trading session.\u00a0 The BoJ will also make its monetary policy decision during tomorrow\u2019s Asia trading session.\u00a0 It will be interesting to see whether the BoJ heeds to the DPJ\u2019s calls for additionally liquidity injections to counter deflationary pressures.\u00a0 If so, the USD\/JPY could pop again as the BoJ takes a looser monetary policy stance than the Fed.\u00a0 However, if the BoJ keeps its policy as is the USD\/JPY may be buoyed around its highly psychological 90 area.\u00a0 That being said, there are many events on the calendar which could have a considerable impact on the USD\/JPY over the next 24 hours.<\/p>\n

Technically speaking, the USD\/JPY faces multiple downtrend lines along with 3.8, 3\/10, and 3\/12 highs.\u00a0 Meanwhile, the highly psychological 90 area could continue to 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\/9 lows.<\/p>\n

Present Price: 90.06<\/p>\n

Resistances: 90.16, 90.23, 90.29, 90.35, 90.41, 90.50<\/p>\n

Supports: 90.01, 89.92, 89.84, 89.74, 89.64, 89.55<\/p>\n

Psychological: 90, March highs and lows<\/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 retesting its highly psychological 90 level as the Dollar pulls back across the board ahead of the FOMC.\u00a0 Investors will be paying close attention to the Fed\u2019s statement to see whether the central bank alters its dovish language.\u00a0 Should there be any alteration, this could spur a Dollar … <\/p>\n

Continue reading “USD\/JPY Retests 90 Ahead of FOMC”<\/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-7615","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7615","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=7615"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7615\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=7615"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=7615"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=7615"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}