{"id":9544,"date":"2010-05-18T14:35:52","date_gmt":"2010-05-18T18:35:52","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=9544"},"modified":"2010-05-18T14:35:52","modified_gmt":"2010-05-18T18:35:52","slug":"usdjpy-consolidates-above-92","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/05\/18\/usdjpy-consolidates-above-92\/","title":{"rendered":"USD\/JPY Consolidates Above 92"},"content":{"rendered":"

By Fast Brokers <\/strong>– The USD\/JPY is continuing its upward consolidation above the psychological 92 level as conditions in the FX markets calm down following last week\u2019s hefty volatility.\u00a0 However, as we\u2019ll mention time and again, investors shouldn\u2019t get too complacent with the USD\/JPY since the currency pair has the potential to jolt to life.\u00a0 It seems investors are taking a step back and surveying the landscape to determine where to take markets from here.\u00a0 Has all of the damage been done concerning the EU fiscal meltdown, or is there another wave approaching?\u00a0 Should another storm hit this could send the USD\/JPY reeling again due to the Yen\u2019s safe haven status during moments of abnormal levels of uncertainty.\u00a0 Meanwhile, the BoJ\u2019s $22 billion liquidity injection should keep the USD\/JPY afloat and comfortably above its highly psychological .90 area.\u00a0 Japan will be quiet on the data wire tomorrow, though we will receive Prelim GDP on Thursday.\u00a0 Focus should remain on the EU for the time being as finance ministers discuss details for the $1 trillion rescue package.<\/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: 92.55
\nResistances: 92.66, 92.82., 92.95, 93.06, 93.29, 93.43, 93.54
\nSupports:\u00a0\u00a0 92.50, 92.39, 92.17, 92.07, 91.92, 91.80, 91.70
\nPsychological: .93, .92, .91, .90<\/p>\n

\"\"<\/a><\/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 continuing its upward consolidation above the psychological 92 level as conditions in the FX markets calm down following last week\u2019s hefty volatility.\u00a0 However, as we\u2019ll mention time and again, investors shouldn\u2019t get too complacent with the USD\/JPY since the currency pair has the potential to jolt to life.\u00a0 … <\/p>\n

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