{"id":9269,"date":"2010-05-10T12:49:08","date_gmt":"2010-05-10T16:49:08","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=9269"},"modified":"2010-05-10T12:49:08","modified_gmt":"2010-05-10T16:49:08","slug":"usdjpy-pushes-93-amid-risk-rally","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/05\/10\/usdjpy-pushes-93-amid-risk-rally\/","title":{"rendered":"USD\/JPY Pushes 93 Amid Risk Rally"},"content":{"rendered":"<p><strong>By Fast Brokers <\/strong>&#8211; The USD\/JPY has popped back above its psychological 93 level and is looking up at 5\/5 levels as the currency pair climbs back to respectability amid a broad-based risk rally in reaction to the EU\u2019s $1trillion bailout package.\u00a0 Additionally, it is likely that the BoJ\u2019s $22 billion injection of liquidity is weighing on the yen and propping up the USD\/JPY.\u00a0 The EUR\/USD, Cable, and Aussie have all made noteworthy recovery from Thursday\u2019s lows, a signal that uncertainty is easing a bit, a positive for the USD\/JPY.\u00a0 Furthermore, we should note the improvement in the U.S. labor market and the influence this could have on the Fed to tighten its stance a bit regardless of weakness in the EU.\u00a0 This gives a relative strength to the dollar and should benefit the USD\/JPY so long as there isn\u2019t another wave of uncertainty.\u00a0 Tomorrow\u2019s Asia trading session will be all about China with CPI, industrial production, etc. on deck.\u00a0 Bulls will be looking for encouraging data from China in order to keep the USD\/JPY.\u00a0 However, a cool down in China could deflate today\u2019s positive momentum in the risk trade.<\/p>\n<p>Technically speaking, the USD\/JPY faces technical barriers in the form of multiple downtrend lines along with intraday, 5\/6, and 5\/5 highs.\u00a0 Additionally, the psychological 95 area could serve as a solid barrier should it be tested.\u00a0 As for the downside, the USD\/JPY has multiple uptrend lines serving as technical cushions along with intraday and 5\/7 lows.\u00a0 Furthermore, the psychological 93 and 92 areas could serve as solid supports over the near-term.<\/p>\n<p>Present Price: 93.12<br \/>\nResistances: 93.29, 93.43, 93.54, 93.64, 93.76., 93.95, 94.15<br \/>\nSupports:\u00a0\u00a0 93.06, 92.75, 92.56, 92.32, 92.14, 91.98, 91.80<br \/>\nPsychological: .93, .94, .92, .91, .90<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/May10yen.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/May10yen.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 above its psychological 93 level and is looking up at 5\/5 levels as the currency pair climbs back to respectability amid a broad-based risk rally in reaction to the EU\u2019s $1trillion bailout package.\u00a0 Additionally, it is likely that the BoJ\u2019s $22 billion injection of liquidity is &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/05\/10\/usdjpy-pushes-93-amid-risk-rally\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;USD\/JPY Pushes 93 Amid Risk Rally&#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-9269","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9269","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=9269"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9269\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=9269"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=9269"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=9269"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}