{"id":8880,"date":"2010-04-28T14:42:48","date_gmt":"2010-04-28T18:42:48","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8880"},"modified":"2010-04-28T14:42:48","modified_gmt":"2010-04-28T18:42:48","slug":"usdjpy-moves-back-towards-94","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/04\/28\/usdjpy-moves-back-towards-94\/","title":{"rendered":"USD\/JPY Moves Back Towards 94"},"content":{"rendered":"<p><strong>By Fast Brokers<\/strong> &#8211; The USD\/JPY has popped back to its psychological 94 level after suffering a sizable leg down yesterday.\u00a0 The USD\/JPY headed south yesterday as investors snapped up the Yen in reaction to risk-averse flows across the FX market.\u00a0 The USD\/JPY showed that the Yen is still a favored safe haven in times of accelerated uncertainty.\u00a0 However, the USD\/JPY has recovered quickly with investors buying up Japanese bonds as investors divest from Greece and other fiscally troubled EU nations.\u00a0 Additionally, Japan\u2019s retail sales stormed higher by 4.7%, signaling the nation\u2019s economic recovery is gaining traction.\u00a0 As a result, there may be less pressure on the BoJ to loosen its policy since inflation may pick up with consumption.\u00a0 Japan will be on a banking holiday tomorrow, meaning attention will be focused on the Fed\u2019s monetary policy decision later today.\u00a0 Though the central bank is expected to keep its policy unchanged, any tightening in the time frame could really boost the USD\/JPY.\u00a0 However, if the Fed\u2019s statement remains unchanged then the reaction may be negligible.\u00a0 Altogether, it wouldn\u2019t be unreasonable to presume that activity will pick up over the next 24 hours since the Fed normally packs the punch to really move the FX markets.<\/p>\n<p>Technically speaking, the USD\/JPY faces technical barriers in the form of previous April highs.\u00a0 As for the downside, the USD\/JPY has multiple uptrend lines serving as technical cushions along with intraday, 4\/23, 4\/22, and 4\/19 lows.\u00a0 Additionally, the psychological 93 level could continue to serve as a psychological cushion should it be tested.<\/p>\n<p>Present Price: 93.92<br \/>\nResistances: 94.03, 94.20, 94.33, 94.52, 94.66, 94.79<br \/>\nSupports:\u00a0\u00a0 93.88, 93.73, 93.60, 93.45, 93.29, 93.04<br \/>\nPsychological: .94, .93, April highs and lows<\/p>\n<p><a href=\"http:\/\/www.fastbrokers.net\/news\/image\/April28Yen.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.fastbrokers.net\/news\/image\/April28Yen.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 has popped back to its psychological 94 level after suffering a sizable leg down yesterday.\u00a0 The USD\/JPY headed south yesterday as investors snapped up the Yen in reaction to risk-averse flows across the FX market.\u00a0 The USD\/JPY showed that the Yen is still a favored safe haven in times &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/04\/28\/usdjpy-moves-back-towards-94\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;USD\/JPY Moves Back Towards 94&#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-8880","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8880","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=8880"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8880\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=8880"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=8880"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=8880"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}