{"id":9230,"date":"2010-05-07T13:25:27","date_gmt":"2010-05-07T17:25:27","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=9230"},"modified":"2010-05-07T13:25:27","modified_gmt":"2010-05-07T17:25:27","slug":"usdjpy-searches-for-solid-ground-amidst-incredible-volatility","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/05\/07\/usdjpy-searches-for-solid-ground-amidst-incredible-volatility\/","title":{"rendered":"USD\/JPY Searches for Solid Ground Amidst Incredible Volatility"},"content":{"rendered":"

By Fast Brokers <\/strong>– We cautioned that the USD\/JPY can come alive at any moment, and boy did it every.\u00a0 As U.S. equities dove to record intraday losses amid pandemonium on Wall Street investors rushed for the yen, dollar, and gold for safety.\u00a0 The USD\/JPY collapsed from about 94 to 88, roughly a 5% loss, before staging an impressive recovery back above the psychological 90 level.\u00a0 Least to say it has been a historically wild 24 hours.\u00a0 Part of the USD\/JPY\u2019s recovery today has been fueled by the BoJ\u2019s decision to inject $22 billion worth of liquidity into the system in reaction to the Yen\u2019s extreme strength across the board.\u00a0 However, this measure may prove futile should the risk trade get pummeled once again.\u00a0 The yen reaffirmed its status as a safe haven in the wake of investor panics, and we\u2019d expect more of the same if equities tumbled again.\u00a0 That being said, investors should keep an active eye on the news wires across the globe as governments work to counter uncertainty and bring stability to the financial markets.\u00a0 Any renewed panic in the EU could prove devastating for the EU, though it wouldn\u2019t be surprising to see the risk trade head into the weekend on an upbeat note as finance ministers pull out their fire extinguishers.\u00a0 However, China will kick off the trading week with key economic data.\u00a0 Any sign of a slowdown in China could spark risk aversion, whereas encouraging figures could help buoy the USD\/JPY.<\/p>\n

Technically speaking, the USD\/JPY faces technical barriers in the form intraday highs and the psychological .92 and .93 areas.\u00a0 As for the downside, the USD\/JPY has technical cushions in the form of the psychological .91 and .90 areas.<\/p>\n

Present Price: 91.62
\nResistances: 91.70, 91.80, 91.98, 92.14, 92.32., 92.56, 92.77
\nSupports:\u00a0\u00a0 91.53, 91.31, 91.10, 90.95, 90.77, 90.53
\nPsychological: .93, .92, .91, .90<\/p>\n

\"\"<\/a><\/p>\n

(click chart to enlarge)<\/p>\n

Market Commentary<\/strong><\/em> provided by Fast Brokers<\/strong>.<\/a><\/p>\n

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

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":"

By Fast Brokers – We cautioned that the USD\/JPY can come alive at any moment, and boy did it every.\u00a0 As U.S. equities dove to record intraday losses amid pandemonium on Wall Street investors rushed for the yen, dollar, and gold for safety.\u00a0 The USD\/JPY collapsed from about 94 to 88, roughly a 5% loss, … <\/p>\n

Continue reading “USD\/JPY Searches for Solid Ground Amidst Incredible Volatility”<\/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-9230","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9230","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=9230"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9230\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=9230"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=9230"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=9230"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}