{"id":9476,"date":"2010-05-17T12:59:17","date_gmt":"2010-05-17T16:59:17","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=9476"},"modified":"2010-05-17T12:59:17","modified_gmt":"2010-05-17T16:59:17","slug":"usdjpy-consolidates","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/05\/17\/usdjpy-consolidates\/","title":{"rendered":"USD\/JPY Consolidates"},"content":{"rendered":"

By Fast Brokers<\/strong> – The USD\/JPY is looking to continue its consolidation above Friday lows as the currency pair undergoes another one of its characteristic sideways periods.\u00a0 However, investors should keep in mind that the USD\/JPY always has the potential to come alive at any given moment, so investors shouldn\u2019t become complacent amid the present cool down.\u00a0 On a positive note, the USD\/JPY is still trading well above 5\/7 lows and its highly psychological 90 level.\u00a0 Core machinery orders printed slightly below analyst estimates, though the figure isn\u2019t really anything to be overly concerned about.\u00a0 More of a cause for concern is the collapse in the Shanghai Composite.\u00a0 The SCI skidded another -5% today as fears mount that the government will continue to apply the breaks to the real estate industry.\u00a0 Considering China is Japan\u2019s top trading partner, a slowdown in China could be bad news for Japanese manufacturers who are finally starting to regain their footing.\u00a0 Meanwhile, the Yen should maintain its role as a safe haven amid excessive uncertainty in the markets.\u00a0 On the other hand, should conditions in Europe improve this could help lift the USD\/JPY as investors pick up the risk trade again, particularly considering the $22 billion the BoJ just pumped into the system..\u00a0 Regardless, psychological headwinds remain and investors should keep their eyes peeled.<\/p>\n

Technically speaking, the USD\/JPY faces technical barriers in the form of multiple downtrend lines along with intraday, 5\/14, and 5\/13 highs.\u00a0 Additionally, the psychological .93level 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 .92 area could continue to serve as a solid support over the near-term.<\/p>\n

Present Price: 92.36
\nResistances: 92.38, 92.50., 92.66, 92.82, 92.95, 93.06, 93.29
\nSupports:\u00a0\u00a0 92.17, 92.07, 91.92,\u00a0 91.80, 91.70, 91.53, 91.37
\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 – The USD\/JPY is looking to continue its consolidation above Friday lows as the currency pair undergoes another one of its characteristic sideways periods.\u00a0 However, investors should keep in mind that the USD\/JPY always has the potential to come alive at any given moment, so investors shouldn\u2019t become complacent amid the present … <\/p>\n

Continue reading “USD\/JPY Consolidates”<\/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-9476","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9476","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=9476"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9476\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=9476"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=9476"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=9476"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}