{"id":8174,"date":"2010-04-01T12:41:27","date_gmt":"2010-04-01T16:41:27","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8174"},"modified":"2010-04-01T12:41:27","modified_gmt":"2010-04-01T16:41:27","slug":"usdjpy-sets-new-2010-highs","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/04\/01\/usdjpy-sets-new-2010-highs\/","title":{"rendered":"USD\/JPY Sets New 2010 Highs"},"content":{"rendered":"<p><strong>By Fast Brokers<\/strong> &#8211; The USD\/JPY is continuing its incredible run, peaking above its psychological 94 level as investors digest a wealth of manufacturing data from around the globe.\u00a0 Japan\u2019s Tankan Manufacturing Index printed in line with analyst expectations while the non-manufacturing came in a bit above estimates.\u00a0 Additionally, Manufacturing PMI data from China and the UK met expectations while America\u2019s outperformed.\u00a0 Hence, today\u2019s data wire shows us manufacturing is running full steam ahead around the globe, a positive sign for the risk trade.\u00a0 Hence, investors are feeling comfortable dipping back into the USD\/JPY.\u00a0 Additionally, positive U.S. data brings the Fed one step closer to raising rates, which is looking likely to occur before the BoJ.\u00a0 Despite today\u2019s solid Tankan data, the BoJ is still under pressure from the DPJ to fight deflation with elections coming up in a few months.\u00a0 That being said, it will be interesting to see how tomorrow\u2019s U.S. employment data fares.\u00a0 Even though the ADP came in negative on Wednesday, the advanced number has a reputation for being unreliable.\u00a0 With many investors on holiday, volatility could pick up around the FX markets as key economic data coincides with what could be a light volume session.<\/p>\n<p>Technically speaking, the USD\/JPY is currently testing the resilience of January highs.\u00a0 The USD\/JPY has set new 2010 highs in the process, a key technical move regarding the longevity of the currency pair\u2019s uptrend.\u00a0 The USD\/JPY faces technical barriers in the form of its psychological 94 level, 8\/28, and 8\/26 highs.\u00a0 As for the downside, the USD\/JPY has multiple uptrend lines serving as technical cushions along with intraday lows and the psychological 93 level.<\/p>\n<p>Present Price: 93.86<br \/>\nResistances: 93.91, 94.06, 94.26, 94.40, 94.56, 94.74<br \/>\nSupports: 93.67, 93.57, 93.40, 93.32, 93.25, 93.08<br \/>\nPsychological: .94, .93, 2010 highs<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/April1Yen.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/April1Yen.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 is continuing its incredible run, peaking above its psychological 94 level as investors digest a wealth of manufacturing data from around the globe.\u00a0 Japan\u2019s Tankan Manufacturing Index printed in line with analyst expectations while the non-manufacturing came in a bit above estimates.\u00a0 Additionally, Manufacturing PMI data from China and &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/04\/01\/usdjpy-sets-new-2010-highs\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;USD\/JPY Sets New 2010 Highs&#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-8174","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8174","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=8174"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8174\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=8174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=8174"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=8174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}