Yen Corrected, Nikkei Tuesday Morning
Started the Japan Tokyo Stock Exchange trading on Tuesday morning (21/4), the Nikkei index opened with reversed rose from the end of the previous trading weakening. Japanese Yen weakened gradually turned into a strong driving action to buy shares of exporters.
The Japanese yen was not able to continue strengthening the seventh Day of trade, where the end of the trading session the US session last night Japanese Yen should be closed down by cutting reinforcement previously traded, thus providing a strong impetus back pda exporter stocks in early trading today.
Shares rose exporters are Daichi Sankyo shares opened significantly higher at 2.65%, Denso shares opened higher Significant at 0:53%, Fujitsu shares opened higher significantly by 1:17%, Isuzu Motors shares opened higher of 1.05% significantly, Kawasaki Kisen shares opened higher significantly by 0.95%, Mazda Motor opened higher at 1:40%, Mitsubishi Motors shares opened higher significantly by 1:10%, Panasonic shares opened higher significantly by 0.65%, as well as Toyota Motor opened up significantly by 0.80%.
The movement of Nikkei index opened higher this morning by 72.63 points or 0:37% which became 19707.12 points from its previous close at 19634.49 positions to reach the highest point prior to 19725.86 points and the previous low at 19474.38 points. Likewise, the movement of Nikkei index futures opened higher this morning by 31 points or 0:16% which is 19 731 points from the previous closing position at 19 634 points with the highest peak at 19 726 points earlier on as well as the previous low at 19 474 points.
Based on the previous closing, then Analyst Vibiz Research Center estimates that the movement of the Nikkei index today who will try to break through resistance at 19 840 points with MA5 on BB10 daily, if the movement of the index broke through the first resistance is expected to try to penetrate the next resistance at 19 890 points with MA5 on BB10 daily.
If it reversed weakened, it is predicted that the movement of the index will try to penetrate the support at 19 465 points with middle MA5 BB10 daily, if the movement of the index is able to penetrate the first support is expected to try to penetrate the next support at 19 310 points with middle MA5 BB10 daily.
Technically, the index likely to weaken on the trading session today, Tuesday (04/21), 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 rise, 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 19730 and 19625. If it fails in 19795, we then estimated the index tends to retest the resistance level of 19840 and continued until the possibilities are in the area of 19 890.
Euro Drops By Greece Anxiety
The euro fell sharply more than half a percent against the dollar in early trade on Monday week, dominated the market’s response to China’s latest economic stimulus as well as concerns the Greek situation. IMF meetings over the weekend also failed to help the fears of a Greek exit from the euro zone, so the dollar is moving towards parity with the euro until the third quarter.
German bond interest on 10-year tenor continue to decline to a level of zero on Monday, as fears of a Greek exit from the Eurozone increasing demand for safe-haven assets, at the same time dragging the ECB bond buying program yields.
Other negative catalyst that is the central bank of China (PBoC) on Monday cut the statutory reserve banking as an effort to boost bank lending rate in order to overcome the risk of a slowdown in growth.
Technically, the trading session today, Tuesday (4/21), 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 1.0670 and 1.0600 maximum. Meanwhile, if the Euro is able to break and hold above 1.0720, then the other alternative scenario that Euro chance to test resistance in 1.0750 and 1.0810 area.
Inconsistency, Gold Prices Down
As mentioned in the previous week, the fall of the US dollar is not suddenly going to be greeted joy gold investors to buy gold back.
For the players who are accustomed to the pattern of market transactions moment by moment, day by day, of course correction that occurred in strengthening US dollar will be a niche opportunity to add to long positions and hoping for a quick profit from the recovery in gold prices in the short term . In contrast, for other market participants, will await the position of the gold price is better for long-term revenue projections are more favorable.
General assumptions, gold commodity price movements associated with fluctuations in the value of dollar. The pattern of relationship is on the rise in the US dollar will make the price of gold declined. Conversely, when the US dollar weakened, gold prices will tend to rise. However, conditions in the short term this time it did not apply. Price correlation between the two turned out to be negative. The fall of the US dollar semerta not necessarily going to make the price of gold will rise.
Since the strengthening of the US dollar last July, the current position of the US dollar seems to be very vulnerable in other words, Dollar prone to sell that provides so strong impetus for the rise in gold prices further.
As said before, sometimes inconsistent relationship formed between the weakening of the US dollar gold price increases. Tacking on a potential weakness that occurs in the US dollar at the moment seems not to be followed by a rise in gold prices.
Currently, gold seems a week trying to break the line movement pattern that forms the right arm in Head and Shoulder formation. Stuck at $ 1,210, the price of gold has tried to go back $ 1,183 which would confirm the pattern neckline. If the price of gold is able to penetrate, it will open up opportunities further fall in gold prices to $ 1,142.
Trading Silver itself is still moving down after making the price at 15.98 and further directing gold prices also fell. In a technical perspective, the position is still unclear direction of the Silver future, so that investors would be better focused attention on gold transactions.
Technically, gold in today’s trading session on Tuesday (04/21) 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 1190.33 and re-test the maximum level of 1185.10. However, if the price of gold is able to break and hold above 1194.80, the estimated price of gold could potentially test the 1196.30 and 1198.80 resistance.
