{"id":8598,"date":"2010-04-15T12:16:28","date_gmt":"2010-04-15T16:16:28","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8598"},"modified":"2010-04-15T12:16:28","modified_gmt":"2010-04-15T16:16:28","slug":"usdjpy-stays-range-bound","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/04\/15\/usdjpy-stays-range-bound\/","title":{"rendered":"USD\/JPY Stays Range Bound"},"content":{"rendered":"<p><strong>By Fast Brokers<\/strong> &#8211; The USD\/JPY is back to one of its all too familiar consolidative patterns, hovering around its psychological 93 level despite key data releases from China and the U.S.\u00a0 China\u2019s GDP and Industrial Production printed in line with expectations, a positive sign for Japan\u2019s largest trading partner.\u00a0 Additionally, prices came in lower than anticipated, implying China may keep its monetary policy loose for a bit longer than anticipated, also a positive for Japan\u2019s economy.\u00a0 Speaking of which, the BoJ\u2019s Shirakawa reiterated the central bank\u2019s analysis that Japan\u2019s economic recovery is solidifying and a double dip seems highly unlikely.\u00a0 However, it remains to be see how much of an impact a Yuan appreciation would have on the Yen should China move forward with a more flexible currency regime.\u00a0 Regardless, the USD\/JPY is back to its calm ways in anticipation of another jolt in activity.\u00a0 This may not come before week\u2019s end since the data wire is relatively empty tomorrow until the U.S. releases Building Permits and Prelim Consumer Sentiment figures.\u00a0 Even then, these data points could have a limited impact on the FX markets unless they register a large deviation from estimates.<\/p>\n<p>Technically speaking, the USD\/JPY faces technical barriers in the form of intraday, 4\/7, and 4\/2 highs.\u00a0 As for the downside, the USD\/JPY has multiple uptrend lines serving as technical cushions along with 4\/13, 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: 93.29<br \/>\nResistances: 93.37, 93.47, 93.57, 93.71, 93.86, 94.04<br \/>\nSupports: 93.14, 93.04, 92.84, 92.70, 92.59, 92.40<br \/>\nPsychological: .94, .93, 2010 highs<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/April15Yen.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/April15Yen.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 back to one of its all too familiar consolidative patterns, hovering around its psychological 93 level despite key data releases from China and the U.S.\u00a0 China\u2019s GDP and Industrial Production printed in line with expectations, a positive sign for Japan\u2019s largest trading partner.\u00a0 Additionally, prices came in lower &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/04\/15\/usdjpy-stays-range-bound\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;USD\/JPY Stays Range Bound&#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-8598","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8598","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=8598"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8598\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=8598"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=8598"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=8598"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}