{"id":9023,"date":"2010-05-03T09:45:42","date_gmt":"2010-05-03T13:45:42","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=9023"},"modified":"2010-05-03T09:45:42","modified_gmt":"2010-05-03T13:45:42","slug":"usdjpy-consolidates-around-94","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/05\/03\/usdjpy-consolidates-around-94\/","title":{"rendered":"USD\/JPY Consolidates Around 94"},"content":{"rendered":"<p><strong>By Fast Brokers<\/strong> &#8211; The USD\/JPY is undergoing one of its common consolidation phases around the psychological 94 area as the FX markets start off the week on a relatively quiet note.\u00a0 Thus far the EU\/IMF rescue package for Greece has yielded a muted reaction in the Euro and other major dollar pairs, although we\u2019ll have to see how they behave when the U.S. markets open.\u00a0 Meanwhile, the USD\/JPY is holding above the downtrend line running through April highs, a positive sign momentum wise.\u00a0 However, the USD\/JPY still does need to tackle those April highs along with its psychological 95 level.\u00a0 The data wire is pretty tame today outside of America\u2019s manufacturing PMI figure due later.\u00a0 Since Japan will be on a banking holiday Tuesday and Wednesday, this leaves the USD\/JPY in the hands of psychological forces and key events such as U.S. employment data and Thursday\u2019s ECB meeting and parliamentary election.\u00a0 The technicals look positive for the USD\/JPY barring a development triggering broad-based risk aversion.\u00a0 Should the risk trade regain some of its confidence as the EU rescue package digests then this may benefit the USD\/JPY.\u00a0 However, considering there\u2019s a plethora of key news this week the tide could really turn in either direction.<\/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: 94.06<br \/>\nResistances: 94.11, 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:\/\/fastbrokers.net\/news\/image\/May3Yen.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/May3Yen.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 undergoing one of its common consolidation phases around the psychological 94 area as the FX markets start off the week on a relatively quiet note.\u00a0 Thus far the EU\/IMF rescue package for Greece has yielded a muted reaction in the Euro and other major dollar pairs, although we\u2019ll &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/05\/03\/usdjpy-consolidates-around-94\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;USD\/JPY Consolidates Around 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-9023","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9023","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=9023"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9023\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=9023"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=9023"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=9023"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}