{"id":8133,"date":"2010-03-31T13:25:03","date_gmt":"2010-03-31T17:25:03","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8133"},"modified":"2010-03-31T13:25:03","modified_gmt":"2010-03-31T17:25:03","slug":"usdjpy-consolidates-after-eclipsing-93-50","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/03\/31\/usdjpy-consolidates-after-eclipsing-93-50\/","title":{"rendered":"USD\/JPY Consolidates After Eclipsing 93.50"},"content":{"rendered":"<p><strong>By Fast Brokers<\/strong> &#8211; The USD\/JPY nearly hit the 93.75 level we have been pointing out for the past couple weeks, and it will be interesting to see whether the currency pair can keep the winning streak alive.\u00a0 The Dollar is being hit today after a disappointing U.S. economic data set.\u00a0 Both the ADP and Chicago PMI numbers disappointing, denting confidence in America\u2019s economic recovery while effectively calming the USD\/JPY\u2019s rally.\u00a0 The USD\/JPY has been thriving off of a combination of strong U.S. data and a BoJ keen on fighting deflation.\u00a0 Therefore, today\u2019s setback in the U.S. is having a negative impact on the currency pair.\u00a0 Japan also released negative Average Cash Earning data during the Asia session, and this doesn\u2019t help matters either.\u00a0 Speaking of data, Japan will print the Tankan Manufacturing Index tomorrow followed by Australia\u2019s Trade Balance and China\u2019s Manufacturing PMI.\u00a0 Hence, tomorrow will give investors a good picture of how the demand for Asia\u2019s goods is faring.\u00a0 The UK and U.S. will also release their manufacturing PMIs during the Western session, meaning tomorrow could prove to be an active trading day.\u00a0 Meanwhile, it will be interesting to see if the USD\/JPY can continue to stabilize around its psychological 93 area despite present weakness in the Dollar across the board.<\/p>\n<p>Technically speaking, the USD\/JPY faces technical resistance in the form of intraday, 1\/ 4 and 1\/ 8 highs.\u00a0 As for the downside, the USD\/JPY has multiple uptrend lines serving as technical cushions along with 3\/30 and 3\/25 lows.\u00a0 Additionally, the psychological 92 level could serve as a solid technical cushion should it be retested.<\/p>\n<p>Present Price: 93.01<br \/>\nResistances: 93.05, 93.14, 93.23, 93.32, 93.43, 93.57<br \/>\nSupports: 92.96, 92.86, 92.75, 92.63, 92.50, 92.42<br \/>\nPsychological: .92, .93, 2010 highs<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/March31Yen.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/March31Yen.png\" alt=\"\" width=\"595\" height=\"400\" \/><\/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 nearly hit the 93.75 level we have been pointing out for the past couple weeks, and it will be interesting to see whether the currency pair can keep the winning streak alive.\u00a0 The Dollar is being hit today after a disappointing U.S. economic data set.\u00a0 Both the ADP and &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/03\/31\/usdjpy-consolidates-after-eclipsing-93-50\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;USD\/JPY Consolidates After Eclipsing 93.50&#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-8133","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8133","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=8133"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8133\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=8133"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=8133"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=8133"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}