Japanese Stock Gains Positive Data
Japanese shares open for trading on Tuesday morning with a significant increase (11/11). Japanese stocks rebounded after the trade moves Monday closed at its lowest in a week.
September current account data showed fairly good condition so supportive sentiment in the stock market. The current account recorded a surplus back for three consecutive months, reaching a surplus of 0:41 trillion yen.
Other data affecting trade in Japanese stocks this morning is that the data bank lending last October increased by 2.4 percent (y / y). Today the share of the banking sector seems to have increased due to the data. Sumitomo Mitsui Financial led an increase of 0.7 percent.
This morning the Nikkei spot index seems to have a pretty good hike. spot index opened with a recorded increase of 88.96 points or 12:53 percent at 16869.49 points. Meanwhile Topix appear to have increased by 5.64 points or 0.41 percent to 1365.75 points.
The Nikkei 225 futures this morning seems to have an opening at the position 16895. Nikkei index opened up slightly by 10 points compared to the previous closing.
Analyst estimates that the movement in the stock index futures trading on the stock is still in a sideways pattern as a result of consolidation. Technically the index have not found decisive direction after repeatedly failed to break the resistance level of 17000 points. If the resistance level is successfully penetrated the index could reach the second resistance level at 17200 points.
Meanwhile, if the decline continued Nikkei will see the support level at 16700 points. To trade on Monday lows and highs that could be achieved Nikkei is 16705-16915 points.
Technically, the index in the trading session today, Tuesday (11/11) is likely to strengthen, test positive trend. In a bullish hammer formation M15 chart gives an opportunity for the index to move upside. However, the volume is likely to increase, as well as an early indication of a bullish index. In addition, RSI, on the M15 chart, is in the oversold area, cue upside.
It is estimated, the index test the first resistance level of 16940 and 17000. If it fails in 16900, we then estimated the index tends to retest the support level of 16870 and followed up the possibility of being in the 16800 area.
Yen Gains, Thin Rebound In Early Trade Fair
US Dollar on Monday observed down against the Japanese Yen. Opened in the range of 114.51 in early trading (0000 GMT), the currency is down about -41 pips or about -0.36%. Value rolling was observed in the 114.10 range.
Ahead of the report of the METI-Ministry of Economy, Trade and Industry. which is scheduled to release the latest data on the performance of the tertiary industry in Japan, the yen seems to increase slightly against the US Dollar. Some economists suspect that a report can be announced with encouraging results.
Some economists estimate that the indicator Tertiary Industry Activity m / m may indicate stronger signal to the 0.9% rate of the value of the previous period – 0.1%. The US Dollar was observed to move down early to respond to these developments.
Analysts suggested daily forex fundamental analysis US Dollar exchange rate that USDJPY normal range on Monday has support level at 113.98 and resistance level at 115.31.
Technically, the trading session today, Tuesday (11/11), the dollar yen pair likely to move in a negative trend.
A weaker yen is mainly expected to immediately reexamine the minimum support at 116.50 and 118.90 maximum. Meanwhile, if the Yen was able to break and hold above 114.71, then another alternative scenario that is likely to test resistance Yen in 113.00 and 111.50 area.
Total Assets Gold Down, 5 Lowest This Year
Signaled the waning of gold investment demand will make the gold price fall more sharply, falling nine times eight times in the last trading session in New York trading.
The investment manager has cut its forecast for the gold price increases this year. Various US economic data will be referred to the strengthening US economic conditions that diminish the allure of gold as an investment option for investors. Last week, the number of holdings of exchange-traded products (ETP) Gold bullion fell 1.4 percent, the largest number in the 2014’s.
Inevitably, the price of gold corrected down to termurahnya position in the last four years. The strengthening of the US dollar into gold prices hitter sentiment foremost. Another sentiment is market expectations that the Federal Reserve, as the US central bank will raise interest rates again after the US economy is currently showing signaled improved. As stock indices rose, up 2.4 percent on the 7th of November, which is the largest increase since June 19 after US economic reports showed the number of Americans who declare as unemployment declined in October last and the US unemployment rate also fell to the lowest rate since 2008.
Technically, gold trading session today, Tuesday (11/11) the potential reversal, testing positive trend, but prone to taking profit. The RSI indicator is likely to re-test resistance bullish channel and into the area, but the Bollinger Bands which began to shrink, thus giving impetus to gold to the downside.
It is estimated that the price of gold immediately prior to test resistance at least in the area of 1160.50 and re-test the maximum level of 1165.00. However, if the price of gold could not break and stays below 1156.10 then estimated the price of gold has the potential to test the 1153.00 and 1150.10 Support.
