Japanese Stocks With Sharp Rally
Japanese stocks moved higher in early trade on Monday, with the Nikkei Stock Average rose about 0.7% in the range of 19 630 at 8:03 pm to go to the highest level in the last 15 years, as a positive movement is influenced by the movement of the US market and some markets other overseas helping Japanese stock index verdant though the yen strengthened.
Strengthening the index came despite the dollar weakened against the yen to 119.96 level to this morning, moving much lower than the level of 120.90 which is visible when the Tokyo Stock Exchange last traded.
Among blue-chip stocks are considered by investors at the moment is, shares of Sony Corp. up 1.5%, Toshiba Corp. and Hitachi Ltd. shares each rose 1% and Rohm Co. shares rose 2.3%. Sharp Corp. shares outstanding work with a rally of 4.2% after the Nikkei newspaper reported on Friday that the Taiwanese company Hon Hai Precision Industry Co. looks to buy shares of the Japanese electronics company after the deal failed in 2012. Shares of retailers engaged in mixed picture , with J. Front Retailing Co. shares fell 0.8%, Fast Retailing Co., which are flat, and stock Aeon Co. which rose 1.3%, although the Nikkei reported that Aeon will not reach the projected profit of the current fiscal year, with earnings before taxes are expected to fall 15%. Shares of Japan Airlines Co. rose 1.4%, coincided with another report from Nikkei, on a quota of JAL president that he said that the company will immediately provide direct flights between Tokyo and Dallas.
Technically, the index on the trading session today, Monday (23/3) 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 19 750 and 19 670 19830. If you fail, then the next index is expected to tend to reexamine the level of support that is 19650 and continued until the possibility of being in the 19600 area.
Daily Forex Euro, Down Thin in Early Week
Euro today (00:48:53 GMT, Monday, March 23, 2015) tracked down against the US Dollar. Opened in the range of 1.0838 in early trade (0000 GMT), the currency is down about -34 pips or about -0.31% and the value of rolling USDCAD observed in the range of 1.0804.
Ahead of a report from the European statistics office, Eurostat is scheduled to release the latest data on consumer confidence figures, the Euro seemed to move down. Some economists suspect that the report will be published to show progress are not encouraging.
Some economists estimate that consumer confidence indicator may show a negative signal in figure -6, slightly improved from the previous period is -7. The euro moved lower observed early to respond to these developments.
Analysts suggested daily forex fundamental analysis that the Euro exchange rate normal range on the Euro currency is estimated to have the support level at 1.0686 and resistance level at 1.0913.
Technically, the trading session today, Monday (3/23), the Euro-dollar pair a chance to move in the negative trend.
The weakening of the Euro mainly expected soon reexamine the minimum support at 1.0750 and 1.0700 maximum. Meanwhile, if the Euro is able to break and hold above 1.0798, then the other alternative scenario that Euro chance to test resistance in 1.0825 and 1.0875 area.
Recovering Precious Metals Stronger
Exchange precious metals on Monday (23/3) was observed to rise again.
Spot gold rose 0.3 percent to $ 1,185.35 an ounce. While the greenback was under pressure since last Wednesday, when the Fed announced a recovery in the United States, market participants said projections for the Fed from raising interest rates has shifted, this time at least the Fed to postpone interest rate hikes until at least September.
SPDR Gold Trust, where the world’s largest gold exchange said holdings fell 0.72 percent to 744.40 tonnes on Friday, the lowest since late January. In other industry news, the London Bullion Market on the air for the first time on Friday, means the current number is growing like Goldman Sachs and UBS.
In previous touch the yellow metal has a low level of four months before the meeting of the Fed, as concerns over rising interest rates makes bullion demand without interest. However, despite the price of bullion rose, data showed investor sentiment does not increase drastically.
Technically, gold in today’s trading session on Monday (03/23) 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 1176.33 and re-test the maximum level of 1170.73. However, if the price of gold is able to break and hold above 1181.70, the estimated price of gold could potentially test the 1183.40 and 1185.72 resistance.
