{"id":7701,"date":"2010-03-18T14:27:07","date_gmt":"2010-03-18T18:27:07","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=7701"},"modified":"2010-03-18T14:27:07","modified_gmt":"2010-03-18T18:27:07","slug":"usdjpy-recovers-from-sizable-intraday-pullback","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/03\/18\/usdjpy-recovers-from-sizable-intraday-pullback\/","title":{"rendered":"USD\/JPY Recovers From Sizable Intraday Pullback"},"content":{"rendered":"<p><strong>By Fast Brokers <\/strong>&#8211; The USD\/JPY is recovering from a hefty intraday pullback which sent the currency pair tumbling below its highly psychological 90 level.\u00a0 There isn\u2019t much news to infer why the USD\/JPY experienced such a sizable intraday decline, which leads us to believe the movement could be purely technical.\u00a0 Regardless, the currency pair is back above 90and is strengthening in reaction to the U.S. data set.\u00a0 Today\u2019s U.S. data had a positive bias with the Current Account and Philly Index both topping expectations while Unemployment Claims and CPI remained relatively unchanged.\u00a0 As we mentioned in our previous post, positive U.S. data has the potential to impact the USD\/JPY considerably since it gives reason for investors to speculate that the Fed will tighten before the BoJ.\u00a0 The BoJ is still under pressure from the DPJ in regards to fighting deflationary pressures.\u00a0 Hence, positive U.S. data leads investors to favor the Dollar over the Yen due to the Fed\u2019s inclination to have a tighter monetary policy stance down the road.\u00a0 The data wire will be relatively quiet tomorrow, meaning the USD\/JPY could opt to stick around its present trading range barring any key psychological developments.<\/p>\n<p>Technically speaking, the USD\/JPY faces multiple downtrend lines along with intraday, 3\/17, 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 intraday and 3\/17 lows.\u00a0 .<\/p>\n<p>Present Price: 90.40<\/p>\n<p>Resistances: 90.45, 90.52, 90.58, 90.63, 90.69, 90.75<\/p>\n<p>Supports: 90.36, 90.29, 90.21, 90.14, 90.08, 90.01<\/p>\n<p>Psychological: 90, March highs and lows<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/march18yen.gif\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/march18yen.gif\" alt=\"\" width=\"595\" height=\"609\" \/><\/a><\/p>\n<p>(click chart to enlarge)<\/p>\n<p><em><strong>Market Commentary<\/strong><\/em> provided by <a href=\"http:\/\/www.fastbrokers.com\/index.php?CP001\" target=\"_blank\"><strong>Fast     Brokers<\/strong>.<\/a><\/p>\n<p><strong>Disclaimer:<\/strong> FastBrokers\u2019 market commentary is     provided for information purposes only and under no circumstances should     be regarded neither 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<p><strong>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":"<p>By Fast Brokers &#8211; The USD\/JPY is recovering from a hefty intraday pullback which sent the currency pair tumbling below its highly psychological 90 level.\u00a0 There isn\u2019t much news to infer why the USD\/JPY experienced such a sizable intraday decline, which leads us to believe the movement could be purely technical.\u00a0 Regardless, the currency pair &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/03\/18\/usdjpy-recovers-from-sizable-intraday-pullback\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;USD\/JPY Recovers From Sizable Intraday Pullback&#8221;<\/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-7701","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7701","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=7701"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7701\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=7701"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=7701"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=7701"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}