Japanese Yen fell, Nikkei Up Strengthening Day Two
In the movement of the stock market trading Tokyo Japan on Thursday morning (12/3), the Nikkei managed to continue the strengthening of the previous trading. Japanese yen weakened against the dollar back still be driving gains in exporters trading on the stock exchange this morning.
The movement of the Japanese yen was trading lower by 31 pips before or 0:25 which is 121.44% of the position opening at 121.13 to reach the highest at 121.63 and the lowest at 120.85.
Stocks that rose by a weaker Japanese yen as stocks rose at 0:16 Denso%, Hino Motors rose significantly by 0:35%, Honda Motor gained 0.25%, Kawasaki Heavy Industries rose significantly by 0.87%, Nissan Motor rose significantly 1.25%, and Toyota Motor rose of 0.31%.
In addition, also by Sharp shares gained significance ebesar 1.65%, Panasonic rose significantly by 1.65%, significantly higher Nikkon sebebesar 1:15%, Fast Retailing rose significantly by 1:50% and Softbank rose significantly by 0.90%.
The movement of Nikkei index opened higher Thursday morning at 63.58 points or 0:34% which became 19737.10 points from its previous close at 18723.52 position to reach the highest point prior to 18836.93 points and the previous low at 18583.52 points. But inversely proportional to the movement of Nikkei index futures Thursday morning should be opened slightly lower 60% points or 0:32 which is 18 705 points from the previous closing position at 18 765 points to reach the previous highs at 18,840 points and the previous low at 18 550 points.
Based on the previous closing, then Analyst Vibiz research Center estimates that the movement of the Nikkei index today will move diteritori positive by trying to break through resistance at 18,865 points with the middle 10 MA5 bolinger H4 and daily, if the movement of the index is able to penetrate the resistance at 18,865 points, then is expected to trying to penetrate the next resistance at 18,980 points.
If the movement of the index is not able to penetrate the resistance at 18,865 points, then it is estimated that the movement of the index will try to penetrate the support at 18,704 points with the middle 10 MA5 bolinger daily, if the movement is able to penetrate the support at 18 703 points, then it is estimated that the movement of the index will try to penetrate the support berikutya at 18 573 points
Technically, the index on the trading session today, Thursday (12/03) is likely to strengthen, test positive trend. At the M15 chart bullish hammer formation provides opportunities for the index to move upside. However, the volume of which is likely to increase, as well as an early indication of bullish index. In addition, RSI, the M15 chart, are oversold, signaling upside.
It is estimated, the index test the first resistance level of 18900 and 18950. If it fails in 18840, we then estimated the index tends to retest the support level of 18800 and continued until the possibilities are in the area of 18 750.
Burdened Pound Performance Data Industrial Production Weak
The pound fell against the dollar soared Wednesday after industrial production data released disappointing thus dampen optimism positive UK economic data lately.
The rate of industrial output fell -0.1%, is lower than expected, while manufacturing output also dropped -0.5% during the month of January, overall these data lead to pessimism on the momentum of the UK economy that had had good since the beginning of the year.
Pairing GBPUSD also under pressure ahead of the UK general election on May 7 later. While the poll results show that the probability of victory of the ruling Conservative party and the opposition Labour party still quite a draw, thus allowing the parliamentary deadlock and triggered a prolonged period of uncertainty.
Technically, the trading session today, Thursday (12/03), pound sterling-dollar pair a chance to move in the negative trend.
The weakening of the pound sterling primarily expected soon reexamine the minimum support at 1.4860 and 1.4800 maximum. Meanwhile, if the pound sterling was able to break and hold above 1.4915, then the other alternative scenario that Pound chance to test resistance in 1.4950 and 1.500 area.
Gold Price Drops to 8 Consecutive Session
The price of gold at the end of trading on Thursday morning was again drawn to the closing in the red territory (12/3). At the close of the trading price of gold reached its lowest position since November. Gold prices decline fulfilled for 8 consecutive sessions amid rising US dollar on expectations that the Fed will soon raise interest rates in the country.
US dollar exchange rate surge to nearly 12 years to the highest level. Market participants speculated that the stronger the benchmark rate in the United States will be raised at least next June.
Gold prices also came under pressure after European stock markets rose. The increase in the stock market makes a safe-haven assets such as gold declined. Despite this drop in gold prices has made the return of the interest of market participants to make purchases so that this condition can create suppor on price.
Spot gold prices at the end of trading early this morning closed at 1155.10 dollars per troy ounce. The spot gold price fell by 6.55 dollars, equivalent to 0.52 per cent compared to the previous closing. Gold prices had declined to the level of 1147.35 dollars, the lowest since last November.
Comex gold futures prices at the close of trading early this morning also appear to have decreased significantly. Gold futures for April contract fell by 0.8 percent eroded at position 1151 dollars per troy ounce, the lowest since November 6.
Analyst estimates that LLG spot gold price movements will return to record a decline, although at this time is in the pattern of rebound. The price of gold is difficult to maintain with a solid rebound in the dollar’s value increase due to the potential increase in the Fed’s benchmark rate. Potential technical rebound is already open but not strong enough.
In today’s trading in gold prices could potentially test the resistance level at position 1160 dollars per troy ounce. If successfully penetrated the price will continue to rise again to the position in 1166 dollars. Meanwhile, if there is movement further weakened the price will test the support level at the position in 1150 dollars. If successfully penetrated the price will continue to rise to the position in 1145 dollars.
Technically, gold in today’s trading session on Thursday (12/03) potentially bearish, tested negative trend back, but prone to reversal. RSI indicator tends to re-test support channel and towards the oversold area, but Bollinger Bands that began to widen, thus giving impetus to the gold to the upside.
It is estimated that the gold price immediately prior to test support in the area of at least 1146.33 and re-test the maximum level of 1140.73. However, if the price of gold is able to break and hold above 1151.60, the estimated price of gold could potentially test the 1155.40 and 1160.72 resistance.
