{"id":9941,"date":"2010-06-03T08:35:10","date_gmt":"2010-06-03T12:35:10","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=9941"},"modified":"2010-06-03T08:35:10","modified_gmt":"2010-06-03T12:35:10","slug":"usdjpy-runs-to-92-on-hatoyama-resignation","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/06\/03\/usdjpy-runs-to-92-on-hatoyama-resignation\/","title":{"rendered":"USD\/JPY Runs to 92 on Hatoyama Resignation"},"content":{"rendered":"

By Fast Brokers<\/strong> – The Hatoyama resignation rally carried on during the U.S. trading session as political uncertainty weighed on the yen across the board.\u00a0 The yen may continue to exert a relative weakness over the near-term, or at least until the government decides upon a successor.\u00a0 Considering July elections are around the corner, investor uncertainty may surround the USD\/JPY for another month.\u00a0 Meanwhile, it\u2019s important that the government put the finishing touches on plans to reduce Japan\u2019s debt load.\u00a0 Ratings agencies are watching closely and if the government fails to follow through on its promises then Japan\u2019s debt could be in line for another downgrade.\u00a0 However, before we get ahead of ourselves, attention should focus back on the U.S. with key employment and PMI data on deck.\u00a0 Also, conditions in the EU haven\u2019t really changed, meaning investors should continue to pay close attention to the EU news wire for any new developments.\u00a0 If uncertainty in the EU does peak again then the USD\/JPY could drag since its unlikely that the yen has completely lost its safe haven status at this point in time.\u00a0 Regardless, recent gains in the USD\/JPY are encouraging and it will be interesting to see whether the currency pair can challenge May highs.<\/p>\n

Technically speaking, the USD\/JPY still faces multiple downtrend lines along with intraday, 5\/18 and 5\/13 highs and psychological 92 level.\u00a0 As for the downside, the USD\/JPY has technical supports in the form of multiple uptrend lines along with 6\/1 and 5\/26 lows.\u00a0 Additionally, the highly psychological 90 level should serve as a solid technical support should it be tested.<\/p>\n

Present Price: 92.21
\nResistances: 92.25, 92.35., 92.58, 92.76, 92.92, 93.08
\nSupports:\u00a0 92.11, 91.97, 91.80, 91.65, 91.53, 91.38, 91.13
\nPsychological:\u00a0 .90, .92, May highs and lows<\/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 Hatoyama resignation rally carried on during the U.S. trading session as political uncertainty weighed on the yen across the board.\u00a0 The yen may continue to exert a relative weakness over the near-term, or at least until the government decides upon a successor.\u00a0 Considering July elections are around the corner, investor … <\/p>\n

Continue reading “USD\/JPY Runs to 92 on Hatoyama Resignation”<\/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-9941","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9941","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=9941"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9941\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=9941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=9941"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=9941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}