{"id":8536,"date":"2010-04-13T14:26:27","date_gmt":"2010-04-13T18:26:27","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8536"},"modified":"2010-04-13T14:26:27","modified_gmt":"2010-04-13T18:26:27","slug":"usdjpy-walks-lower","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/04\/13\/usdjpy-walks-lower\/","title":{"rendered":"USD\/JPY Walks Lower"},"content":{"rendered":"<p><strong>By Fast Brokers<\/strong> &#8211; The USD\/JPY is creeping lower today as the Yen appreciates across the board.\u00a0 We\u2019re witnessing a bit of risk-averse activity going on around the marketplace as the risk trades pullback and gold weakens below $1150\/oz.\u00a0 Alcoa\u2019s earning\u2019s missed analyst estimates, worrying investors that this earnings season may not be as strong as anticipated.\u00a0 Additionally, some analysts and investors have vocalized their concern that the EU\u2019s relief package is not sufficient to keep Greece from tail-spinning into more troubling fiscal conditions.\u00a0 Pimco\u2019s El-Erian highlighted this group by saying Pimco is not interesting in purchasing Greek bonds at the moment, denting investor confidence gained by the EU accord.\u00a0 This combination of events has benefitted the Yen as a safe haven, placing downward pressure on the USD\/JPY in the process.\u00a0 Meanwhile, the U.S. Trade Balance revealed a stronger than expected pickup in import demand, a positive sign for tomorrow\u2019s Retail Sales data.\u00a0 Such a development is a positive for Japan\u2019s export-reliant economy, and it will be interesting to see how the USD\/JPY responds to tomorrow\u2019s data flows.\u00a0 The U.S. will also release CPI data, meaning tomorrow\u2019s trading session could bring higher volatility.\u00a0 Japan will be quiet on the data wire tomorrow, leaving the U.S. in the spotlight unless Shirakawa provides investors with any unknown news regarding the BoJ\u2019s monetary policy.<\/p>\n<p>Technically speaking, the USD\/JPY faces technical barriers in the form of intraday, 4\/9, and 4\/7 highs.\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 continue to serve as a psychological cushion for the near-term.<\/p>\n<p>Present Price: 92.91<br \/>\nResistances: 93.04, 93.14, 93.35, 93.45, 93.54, 93.71, 93.86<br \/>\nSupports: 92.84, 92.70, 92.59, 92.40, 92.26, 92.15, 91.93<br \/>\nPsychological: .94, .93, 2010 highs<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/April13Yen.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/April13Yen.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 creeping lower today as the Yen appreciates across the board.\u00a0 We\u2019re witnessing a bit of risk-averse activity going on around the marketplace as the risk trades pullback and gold weakens below $1150\/oz.\u00a0 Alcoa\u2019s earning\u2019s missed analyst estimates, worrying investors that this earnings season may not be as strong &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/04\/13\/usdjpy-walks-lower\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;USD\/JPY Walks Lower&#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-8536","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8536","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=8536"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8536\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=8536"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=8536"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=8536"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}