Nikkei Flat Early Week, Pressure Yen Still Continues
Japanese samurai domestic stock market Monday morning (27/4) opened with the Nikkei index is equal to the position of the previous closing. Trade today investors focused on the financial statements of listed companies in the first quarter, and this also weighed on the Nikkei index movement already under pressure by the strengthening of the Japanese yen at the end of trading last week.
Japanese Yen back showed gains against the dollar As the end of last week with the higher by 72 pips or 0.60% being helped weaken 118.87 at exporter shares such as Daikin shares opened lower by 0:35%, Denso shares opened lower by 0:36%, shares of Honda Motor which closed down at 0:41%, Kawasaki Kisen shares opened significantly weakened by 0.93% Kawasaki Heavy Industries shares closed down significantly by 0.95%, Mazda shares closed lower Mmotor which significantly by 1.95%, shares of Mitsubishi Corp., which closed down at 0:47%, Mitsubishi Motor’s stock ended down significantly by 3.96%, Sony shares opened significantly lower at 1.80%, Toyota Motor shares opened significantly weakened by 0:58%.
But there are also limits the stocks that are weakening as Toshiba shares opened higher by 0:50%, Sharp stocks opened higher 0.40%, Panasonic shares opened significantly higher at 1:50%, stocks opened higher Nikkon which significantly by 1.93%, shares of Konica Minolta which opened up significantly by 0.95%, Isuzu Motors shares opened higher by 0:30%, Hino Motors shares opened significantly higher at 1.04% out, Fanuc shares opened significantly higher at 0.72%, as well as Canon shares opened significantly higher at 0.80%.
The movement of Nikkei index opened this morning at the same position on the previous closing on 2.0143,47 points and the previous low at 20013.74 points. But inversely proportional to the movement of Nikkei index futures opened higher this morning by 44 points or 0:21 that became 20 064% of the previous closing position at 20 020 points to reach the previous highs at 20 142 points and the previous low at 20 014 points.
Based on the previous closing, the analyst estimated that the movement of Nikkei index today will still try to penetrate the support at 19 945 points by the middle MA5 BB10 H4, if the movement of the index is able to penetrate the first support is expected to try to penetrate the next support at 19 855 points by the middle MA5 BB10 H4.
If the movement of the index reversed course to strengthen, it is predicted that the movement will try to penetrate the resistance at 20 110 points with MA5 on BB10 daily, if the movement of the index is able to penetrate the first resistance then expected to try to penetrate the next resistance at 20 235 points with MA5 on BB10 daily.
Technically, the index likely to weaken on the trading session today, Monday (27/04), 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 of which is likely to increase, early indications bullish index. In addition, RSI, on the M15 charts, is oversold, signaling upside.
It is estimated, the index test the first support level that is 19 980 and 19925. If it fails at 20035, then the next index is expected to tend to retest the resistance level 20060 and continued until the possibilities are in the 20125 area.
Yen GainsAgainst US Dollar
The movement of the currency market on Monday (27/4), observed a sharply higher yen against the US dollar when trading tends sideway because absence of important economic events.
Ongoing trade in the Asian session, the USDJPY fell 0:14% to 118.82 where the pair is observed to move hit a daily low of 118.78 for the session and 118.96 levels to the highest sessions daily.
Yen re-arrange the strengthening against the US dollar at the beginning of the week after the natural decline on Friday at the release of US durable goods orders.
Based on the official report released by the Census Bureau stated that US durable goods orders increased by 4.0% in March, after falling by 0.6% in February. In the durable goods orders, excluding defense tool category has risen 2.6% in March after rising by 1.0% in February.
Meanwhile, durable goods orders, excluding transportation category has been observed to decrease by 0.2% in March, after falling by 0.4% in February.
Technically, the trading session today, Monday (27/04), the dollar yen pair has an opportunity to move in a negative trend.
Weakening Yen mainly expected soon reexamine the minimum support at 118.00 and 116.10 maximum. Meanwhile, if the Yen were able to break and hold above 118.90, then another alternative scenario the Yen likely to test resistance in 119.25 and 119.90 area.
Gold Gains Due to Poor Data at Fed Interest Rate Outlook
Gold recovered earlier this week from the lowest level in five weeks as a pessimistic outlook for the US data has overshadowed higher interest rates before the Federal Reserve policy makers meet this week.
Gold is currently rising as much as 0.3% to $ 1,181.70 / onz and traded at $ 1,181.45 at 09.00 pm. The price of gold fell to $ 1,175.35 on April 24; it was the lowest level since March 20. Gold in Shanghai fell to its lowest level in five weeks.
The precious metal was little changed this month after falling in February and March as investors gauge the data for clues on when interest rates will probably begin in Rev. The Fed will start a two-day meeting on April 28 after a disappointing report on the housing market and bookings for business equipment. Higher interest rates would hurt the appeal of the precious metal, which typically provide a profit if prices rise.
Analysts of Australia & New Zealand Banking Group Ltd., in writing saying that the current series of pessimistic US data continue to lower market expectations for a rate hike. Further disappointment in US data could trigger strengthen that the Federal Reserve could soften their rhetoric on the FOMC meeting this week.
The Fed currently rules out a rate hike when it meets in April, policy makers have the opportunity to rise in June. The dollar index was little changed on Monday after prices fell for a third day on Friday for a second weekly decline.
Booking for the raw materials excluding non-military aircraft, unexpectedly fell 0.5% in March, it was the seventh decline, the Commerce Department said on Friday. Demand for all durable goods rose 4%. Reports last week showed sales of homes that had been owned previously surged in March, while sales of new homes fell less than expected.
Technically, gold on the trading session today, Monday (27/04) the potential reversal, testing positive trend, but prone to profit taking. RSI indicator tends to re-test resistance and aiming the bullish channel, but Bollinger Bands began to shrink, thus giving impetus for gold to the downside.
It is estimated that the gold price immediately prior to test resistance in the area of at least 1185.60 and re-test the maximum level of 1190.36. But if the gold price could not break and survive below 1181.80 then predicted gold prices could potentially test the Support 1180.10 and 1175.25.
