{"id":9577,"date":"2010-05-19T12:16:22","date_gmt":"2010-05-19T16:16:22","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=9577"},"modified":"2010-05-19T12:16:22","modified_gmt":"2010-05-19T16:16:22","slug":"usdjpy-breaks-lower","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/05\/19\/usdjpy-breaks-lower\/","title":{"rendered":"USD\/JPY Breaks Lower"},"content":{"rendered":"<p><strong>By Fast Brokers<\/strong> &#8211; The USD\/JPY is breaking lower from its consolidation, touching its psychological 91 level as investors head for the Yen in search of a safe haven amid rampant uncertainty in the EU.\u00a0 Germany\u2019s decision to ban short selling on government bonds proved to be the breaking point for a recently resilient USD\/JPY, stirring up volatility in the normally calm currency pair.\u00a0 However, the USD\/JPY does remain above its highly psychological 90 level and 5\/7 lows.\u00a0 Fortunately for bulls, the EUR\/USD and Cable are popping today in what appears to be a short squeeze from oversold conditions.\u00a0 The short squeeze is helping buoy the USD\/JPY ahead of tomorrow\u2019s Prelim GDP release.\u00a0 Investors are expecting an improvement in growth to 1.4%, and it wouldn\u2019t\u2019 be surprising to receive a strong GDP figure from Japan since China\u2019s economy has been humming along the last month.\u00a0 Additionally, improvements in U.S. consumption likely benefitted beleaguered manufacturers and exporters.\u00a0 However, attention will likely remain focused on the EU as leaders try to iron out details for its huge $1 trillion rescue package.<\/p>\n<p>Technically speaking, the USD\/JPY faces technical barriers in the form of multiple downtrend lines along with intraday, 5\/17, and 5\/18 highs.\u00a0 Additionally, the psychological .92level 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 .90 level should serve as a solid technical cushion if it\u2019s reached.<\/p>\n<p>Present Price: 91.31<br \/>\nResistances: 91.37, 91.55., 91.66, 91.85, 92.01, 92.17, 92.39<br \/>\nSupports:\u00a0\u00a0 91.05, 90.88, 90.77, 90.55, 90.42, 90.27<br \/>\nPsychological:\u00a0 .92, .91, .90<\/p>\n<p><a href=\"http:\/\/fastbrokers.net\/news\/image\/May19Yen.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/fastbrokers.net\/news\/image\/May19Yen.png\" alt=\"\" width=\"595\" height=\"400\" \/><\/a><\/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 breaking lower from its consolidation, touching its psychological 91 level as investors head for the Yen in search of a safe haven amid rampant uncertainty in the EU.\u00a0 Germany\u2019s decision to ban short selling on government bonds proved to be the breaking point for a recently resilient USD\/JPY, &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/05\/19\/usdjpy-breaks-lower\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;USD\/JPY Breaks Lower&#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-9577","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9577","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=9577"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9577\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=9577"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=9577"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=9577"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}