Nikkei Opened Positive By Stagnant Japanese Yen
Japan’s Nikkei index Friday morning (15/5), appears to work significantly opened higher and cut the weakening of the previous trading. Japanese Yen hardly moved traded overnight by US positive data become amplifier stock market in early trading this morning Tokyo Japan.
Positive data from the first week, the US claims pengangguraan last May looked back pressed against the Japanese Yen movements, thus providing fresh air for the movement of shares of exporters such as Hino shares soaring 2:03%, shares rose 0.97% Hitachi, Mitsubishi Heavy Industries, which gained 0.78 %, Panasonic shares that shot 1%, shares rose 0.77% yng Shimizu, as well as Sony’s shares shot 1%.
This morning the Nikkei index movement raced successfully opened 122.93 points or 0.62% to 19693.17 points of the results into its previous close at 19570.24 points and the highest achievement earlier traded at 19717.80 and the lowest point at 19546.82 points previously. Almost the same as the movement of Nikkei index futures traded this morning opened surged 150 points or 0.76% to be 19 695 points from the previous closing position at 19 545 points and the previous highest achievement in the 19 730 points and the previous low at 19 540 points.
From the results of the previous closing, the Analyst Vibiz Research Center estimates that the movement of the Nikkei index on this day was observed to be rebounded by trying to break through resistance at 19 620 points with under BB10 daily MA5, if the first resistance is penetrated it will try to penetrate the resistance at 19 740 MA5 points by the middle of BB10 daily.
If the movement of the index turned around, it is expected to try to penetrate the support at 19 450 points with under BB10 daily MA5, if the first support is penetrated it will try to penetrate the second support at 19,295 points with MA5 under BB10 daily.
Technically, the index likely to weaken on the trading session today, Friday (15/05), 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 level of support in advance ie 19600 and 19540. If it fails at 19 660, then the next index is expected to tend to retest the resistance level that is 19 690 and continued until the possibilities are in the area of 19 750.
Yen Depreciated Vs Dollars
Yen tend to be depressed against the dollar Friday (15/5). Although last night greenback also weakened.
USDJPY strengthened 0:06% to 119.25. From the report of the US Labor Department said initial jobless claims fell 1,000 per May 9 at the level of 264 000 from the previous week at 265,000.
In a report, the US labor department said the number of individuals filing for initial jobless benefits in the week ending May 9 fell by 1,000 to 264 000 from the previous week’s total of 265,000. PPI data also on the projections will decline in the level of -2.1% from last month at 0.7% level. Therefore, the Yen has not been able to resist the domination of the US dollar.
Technically, the trading session today, Friday (15/05), the dollar yen pair has an opportunity to move in a negative trend.
Weakening Yen mainly expected soon reexamine the minimum support at 118.80 and 118.00 maximum. Meanwhile, if the Yen were able to break and hold above 119.38, then another alternative scenario the Yen likely to test resistance in 119.90 and 120.40 area.
Gold Fly Over Monetary Tightening
Gold touch 3-month highs after the dollar increasingly burdened the latest US data while lowering the expected rate hike in the near future in the world’s largest economy. US jobless claims last week hit a nearly 15-year low, but other data show the strengthening dollar and lower oil prices have pressured wholesale inflation in April.
Analysts interviewed by the Wall Street Journal assess the overall global economic conditions still favor gold trade. The inflation rate in Europe and other countries still tend to be weak so that global interest rates are still low. On the other hand, ignoring bullion strengthening global equities on Thursday, circumstances which typically can reduce the charm of gold as a protection against risk assets.
Separately, the World Gold Council reported global demand for gold fell 1% in the first quarter due to a decrease in demand for jewelry in China. Local investors are turning to the stock market where demand increased rapidly in the last month. However, China became the largest consumer of gold in the first quarter, shifting India.
Technically, gold in today’s trading session on Friday (15/05) 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 Band begins to widen, thus giving impetus for gold to the upside.
It is estimated that the gold price immediately prior to test support in the area of at least 1215.10 and re-test the maximum level of 1210.50. However, if the price of gold is able to break and hold above 1219.10, the estimated price of gold could potentially test the Resistance 1220.80 and 1225.10.
