{"id":9600,"date":"2010-05-20T12:05:20","date_gmt":"2010-05-20T16:05:20","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=9600"},"modified":"2010-05-20T12:05:20","modified_gmt":"2010-05-20T16:05:20","slug":"usdjpy-sinks-as-risk-trade-flounders","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/05\/20\/usdjpy-sinks-as-risk-trade-flounders\/","title":{"rendered":"USD\/JPY Sinks as Risk Trade Flounders"},"content":{"rendered":"

By Fast Brokers<\/strong> – The USD\/JPY is back below its psychological 91 level as the risk trade flounders with the Cable and Aussie each heading South.\u00a0 Investors are snapping up the Yen as apparent risk aversion takes hold of the markets once again.\u00a0 The DAX is down nearly -2% as German\u2019s voice their concern and discontent over what is taking shape in the EU.\u00a0 However, the USD\/JPY still does have its highly psychological 90 level waiting below and we\u2019ll have to see how the U.S. trading session pans out.\u00a0 Investors are currently waiting on weekly U.S. unemployment claims and the Philly index.\u00a0 Japan\u2019s prelim GDP came in at 1.2%, two basis points shy of analyst expectations.\u00a0 Hence, investors have been hesitant to prop up the USD\/JPY.\u00a0 Additionally, the GDP price index printed a basis point below analyst expectations, giving Kan ample reason to reason to weigh on the BoJ to keep liquidity loose, a USD\/JPY positive.\u00a0 Attention remains focused on the EU and investors should keep an eye on the news wire for any developments since the situation is far from stable at this point.\u00a0 Japan will make its monetary policy decision tomorrow and it will be interesting to see what the central bank has to say about its recent $22 billion liquidity injection.<\/p>\n

Technically speaking, the USD\/JPY faces technical barriers in the form of multiple downtrend lines along with intraday highs and the psychological 92 level.\u00a0 As for the downside, the USD\/JPY has technical supports in the form of intraday and 5\/7 lows.\u00a0 Furthermore, the psychological .90 level should serve as a solid technical cushion if it\u2019s reached.<\/p>\n

Present Price: 90.87
\nResistances: 91.14, 91.23, 91.37, 91.55., 91.66, 91.85
\nSupports:\u00a0 90.88, 90.77, 90.64, 90.55, 90.42, 90.27
\nPsychological:\u00a0 .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 back below its psychological 91 level as the risk trade flounders with the Cable and Aussie each heading South.\u00a0 Investors are snapping up the Yen as apparent risk aversion takes hold of the markets once again.\u00a0 The DAX is down nearly -2% as German\u2019s voice their concern and … <\/p>\n

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