{"id":7870,"date":"2010-03-23T12:59:41","date_gmt":"2010-03-23T16:59:41","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=7870"},"modified":"2010-03-23T12:59:41","modified_gmt":"2010-03-23T16:59:41","slug":"usdjpy-locked-at-90","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/03\/23\/usdjpy-locked-at-90\/","title":{"rendered":"USD\/JPY Locked at 90"},"content":{"rendered":"

By Fast Brokers<\/strong> – The USD\/JPY is continuing its sideways action while floating around the highly psychological 90 area.\u00a0 Uncertainty in the EU hasn\u2019t had much of an impact on the USD\/JPY thus far as loose monetary policies from both the BoJ and Fed offset one another.\u00a0 While investors may expect the USD\/JPY to decline with pullbacks in the risk trade, the currency pair has held firm since the BoJ maintains its loose monetary policy stance while the Fed tightens a tad.\u00a0 Underperformance in Japan\u2019s economy coupled with a dovish stance has given investors little reason to buy up the Yen over the Dollar for safety.\u00a0 Meanwhile, weakness in the risk trade seems to be capping upward movements in the USD\/JPY since they tend to have a positive correlation.\u00a0 Although consolidation in the USD\/JPY has carried on for quite some time, investors shouldn\u2019t become complacent since the currency pair is prone to periods of accelerated activity.\u00a0 Japan will release Trade Balance data during tomorrow\u2019s trading session followed by the UK\u2019s budget and key data from the EU and U.S.\u00a0 Investors will likely pay particular attention to U.S. durable goods data since consumption of lasting products can give us a barometer in regards to the health of Japan\u2019s manufacturing industry.<\/p>\n

Technically speaking, the USD\/JPY faces multiple downtrend lines along with intraday, 3\/18, 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\/18 lows.\u00a0 .<\/p>\n

Present Price: 90.26
\nResistances: 90.37, 90.47, 90.57, 90.71, 90.79
\nSupports: 90.16, 90.12, 90.06, 89.99, 89.94, 89.84
\nPsychological: 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 continuing its sideways action while floating around the highly psychological 90 area.\u00a0 Uncertainty in the EU hasn\u2019t had much of an impact on the USD\/JPY thus far as loose monetary policies from both the BoJ and Fed offset one another.\u00a0 While investors may expect the USD\/JPY to decline … <\/p>\n

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