Nikkei fell, Japanese Yen Strong
Japan Tokyo stocks Wednesday morning (15/4), opened with the Nikkei index continued weakening of the Day fourth straight. Japanese yen has continued to strengthen against the US dollar at the end of the US trading session last night, still a signal attenuator in early trading this morning the stock market.
The Japanese yen is still continuing to positive trend against the US dollar by responding the release of US inventory of business development which surprisingly showed negative results with higher by 72 pips or 0.60% which is 119.39 to 120.11 of the opening position, so as to weaken the exporters in early morning trade.
The exporter stocks are stocks opened lower Bridgestone significantly by 0.80%, Canon shares opened lower significantly by 0:55%, stocks opened lower Fujitsu significantly by 1:51%, stocks opened lower Hitachi significant $ 1.41%, Kawasaki Heavy Industry shares opened lower significantly by 1:13%, Mazda Motor opened weakened significantly by 0.65%, stocks opened lower Nikon significantly by 1:06%, Panasonic shares opened lower significantly by 1:10%, as well as Toyota Motor opened weakened significantly by 0:53%.
The movement of Nikkei index opened lower this morning by 70.15 points or 0:35% which became 19838.53 points from the previous closing position at 19908.68 points to reach the previous highs at 19920.07 points and the lowest at 19828.65 points. Likewise, the movement of Nikkei index futures opened lower this morning by 81 points or 0:40% which is 19 828 points from the previous closing position at 19 909 points to reach the previous highs at 19 923 to 19 829 points and low points.
Based on the previous closing, then Analyst Vibiz Research Center estimates that the movement of the Nikkei index today will try to penetrate the support at 19 825 points with the middle 10 MA4 bolinger H4, a break on the first support it is estimated that the movement of the index will try to penetrate the next support at 19,700 points the middle 10 MA5 bolinger daily.
If the index movement turned toward stronger than expected that the movement of the index will try to break through resistance at 19 956 points with over 10 MA5 bolinger daily, a break in the first resistance is expected to try to penetrate the next resistance at 20,000 points.
Technically, the index on the trading session likely to weaken today – Wednesday (04/15), test negative trends, the impact of Wall Street. At the M15 chart bearish engulfing formation provides opportunities for the index to move downside. However, the volume tends to raise, early indications bullish index. In addition, RSI, the M15 chart, are oversold, signaling upside.
It is estimated, the index test the first support level that is 19 940 and 19 910 19825. If you fail, then the next index is expected to tend to retest the resistance level that is 19 960 and continued until the possibility of being in the 20025 area.
Yen Slips Against US Dollar
Yen on the fluctuation of the greenback cannot mengguli, Wednesday (15/4) although last night the US dollar weakened after the data sempet US retail sales.
USDJPY rose 0.055 to 119.46 levels, despite of the Sakura country is moving toward recovery, but cannot beat the US dollar. BoJ also use the word ‘recovery’ for all regions. Directly also highlighted on the economic outlook for the future of this country’s third largest.
BoJ also realize difficult to achieve the inflation target of 2 percent this fiscal year. Therefore, Haruhiko Kuroda BOJ Governor does not have to feel to achieve inflation and prefer to loosen the stimulus.
Technically, the trading session today, Wednesday (04/15), the dollar yen pair a chance to move in the negative trend.
The weakening of the yen mainly expected soon reexamines the minimum support at 117.80 and 115.70 maximum. Meanwhile, if the Yen was able to break and hold above 119.56, then the other alternative scenario that Yen chance to test resistance in 120.10 and 121.25 area.
Gold Trim Disadvantage Because Weakening Dollar After US Data
Gold prices reduce losses on Tuesday, as the US dollar turned lower after retail sales data and producer prices in the United States results are weaker than expected, but the price is still below the $ 1.200 / onz due to higher equity markets.
The US Commerce Department on Tuesday reported that retail sales rose 0.9%, is below 1% which predicted by the economists surveyed by Reuters.
Separately, Department of Labor said that the producer price index for final demand rose 0.2% last month. But in a period of 12 months to March, producer prices dropped 0.8%, it is the largest annual decline for the annual level since 2009.
Tony Walters, senior analyst at Deutsche Boerse MNI said that retail sales result was below forecasts, so we saw a brief strengthening of gold behind the weakening dollar.
Spot gold prices, has decreased by 1.2% to its weakest level in two weeks at $ 1,183.68 / onz in early trade, cut losses to trade the range of $ 1,193.16.
US gold futures for June contract ended down $ 6.70 / onz at $ 1,192.60.
Technically, gold in today’s trading session on Wednesday (04/15) 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 1185.25 and re-test the maximum level of 1280.73. However, if the price of gold is able to break and hold above 1190.90, the estimated price of gold could potentially test the 1191.50 and 1193.80 resistance.
