{"id":8498,"date":"2010-04-12T12:36:59","date_gmt":"2010-04-12T16:36:59","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8498"},"modified":"2010-04-12T12:36:59","modified_gmt":"2010-04-12T16:36:59","slug":"usdjpy-consolidates-despite-volatility-in-european-currencies","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/04\/12\/usdjpy-consolidates-despite-volatility-in-european-currencies\/","title":{"rendered":"USD\/JPY Consolidates Despite Volatility in European Currencies"},"content":{"rendered":"<p><strong>By Fast Brokers <\/strong>&#8211; The USD\/JPY is moving sideways despite volatility taking place in the Euro and Pound after the EU announced an aid offer for Greece to settle credit markets.\u00a0 While once may expect the USD\/JPY to benefit from such a development due to its positive correlation with the risk trade, investors are instead opting to keep the currency pair locked beneath its April highs.\u00a0 However, its new uptrend is still intact and we will have to see how the remainder of the trading session plays out.\u00a0 A possible element weighing on the USD\/JPY could be speculation that China will appreciate the Yuan soon, which would likely benefit the Yen.\u00a0 Additionally, the BoJ may provide an upward revision for its economic performance outlook, also a Yen positive.\u00a0 Meanwhile, the data wire is relatively quiet until tomorrow\u2019s U.S. Trade Balance data.\u00a0 Investors will be looking to see if U.S. imports increased.\u00a0 Strong U.S. imports implies an increase in demand for Japanese exports, a USD\/JPY positive.<\/p>\n<p>Technically speaking, the USD\/JPY faces technical barriers in the form of previous April highs and the currency pair\u2019s psychological 95 level.\u00a0 As for the downside, the USD\/JPY has multiple uptrend lines serving as technical cushions along with intraday, 3\/30, and 3\/25 lows.\u00a0 Additionally, the psychological 93 level could serve as a psychological cushion for the near-term.<\/p>\n<p>Present Price: 93.28<br \/>\nResistances: 93.35, 93.45, 93.57, 93.71, 93.86, 94.06, 94.26<br \/>\nSupports: 93.14, 93.04, 92.84, 92.70, 92.59, 92.40, 92.26<br \/>\nPsychological: .94, .93, 2010 highs<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/April12Yen.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/April12Yen.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 moving sideways despite volatility taking place in the Euro and Pound after the EU announced an aid offer for Greece to settle credit markets.\u00a0 While once may expect the USD\/JPY to benefit from such a development due to its positive correlation with the risk trade, investors are instead &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/04\/12\/usdjpy-consolidates-despite-volatility-in-european-currencies\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;USD\/JPY Consolidates Despite Volatility in European Currencies&#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-8498","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8498","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=8498"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8498\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=8498"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=8498"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=8498"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}