Japanese Stocks Opened Positive
The Nikkei index of the Japanese stock market in early trading Thursday morning (17/9), appears to be still able to be opened in positive territory, by responding to the turning of the fall of the Japanese yen, despite the absence of data in the country which is very disappointing.
This morning, Japan’s finance minister re-release of the results of the performance of the export sector in the country, which showed significant decrease with being 3.1% from the previous release to 7.6%, the sharp decline in export performance is increasingly adding trade deficit in August to become – ¥ 570B, from the previous month in the release position – ¥ 268.1B.
Japanese exporters are still able to contribute positively to the stock movement, which successfully amplified by a surge in shares of Mazda Motor for 2:38%, Sumitomo Electric Industries 1.97%, Sumitomo Chemical 3:34%, shares of Panasonic 1.63%, Sony shares 3.91%, shares of Fujitsu 2:09 %, Mitsubishi Electric 1.70%, Mitsubishi Heavy Industries 2:05%, shares of Kawasaki Heavy Industries 3:08%, Nissan Motor 1.60%, shares of Isuzu Motors 2.82%, shares of Toyota Motor 1:59%, Honda Motor 3:45%, and shares of Suzuki Motor at 3:57%.
The Nikkei this morning successfully amplified by 214.74 points, or 1:17%, by becoming 18386.34 points from the closing position at the end of the previous stock exchange trading on the position of 18171.60 points and managed to record positive performance earlier traded at 18291.97 points and the lowest position before the position 18094.99 points.
But unlike the movement of the index Nikkei this morning, which opened in the same position at the closing position at the end of trading the stock market before, namely at position 18 345 points, with mempu recorded a surge in the largest stock traded stock exchanges previously at position 18 190 points and the previous low at position 17 895 points.
Based on the results of the closure at the end of trading the Japanese stock market earlier, the analyst estimated that the movement of Nikkei index today will air the potential to continue strengthening, but need to be aware of the existence selloff, by penetrating the first resistance at position 18 330 points with MA5 on BB10 H4, if the movement of the index broke through the first resistance is expected to try to penetrate the resistance at 18,500 points with MA5 position on BB10 H4.
In the event of a sell-off trading on the stock exchange next, it is expected to try to penetrate the first support at position 18 015 points with MA5 middle BB10 H4, if the movement of the index broke through the first support it is expected to try to penetrate the second support at position 17 840 points with MA5 middle BB10 H4.
Technically, the index on the trading session today, Thursday (17/09) likely to weaken, tests 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 increase, an early indication of bullish index. In addition, RSI, the M15 chart, was oversold, signaling upside.
It is estimated, the index test the first support level 18200 and 18140. If it fails at 18250, then the next index is expected to tend to retest the resistance level that is 18 275 and is likely to be continued until the 18325 area.
Pound Sterling Continue Rally
The increase in the average salary in the UK which exceeds the expectations of making the pound rallied against the dollar on Wednesday. At the beginning of the Asian trading session today, the British currency is seen to continue strengthening.
Office for National Statistics (ONS) reported that the average salary in the UK in the three months ended July rose by 2.9%, higher than economists’ expectations of 2.5%. The increase in the average salary will make people’s purchasing power increases, which in turn could push up inflation. The ONS said the rise was the highest since January 10, 2009.
Other data released by the ONS showed filing claims for unemployment benefits rose 1,200 in August, while the unemployment rate in the three months ended July fell to 5.5%, from the previous 5.6%.
On the other hand, ahead of the Fed interest rate decision this evening, the dollar came under pressure from the decline in inflation in August. Before the meeting focused on the results of the Fed’s monetary, market participants will look at the UK retail sales data this afternoon, which can affect the movement of the currency pair GBPUSD significantly.
Up at 8:42 am, GBPUSD strengthened the range of 1.5512, with daily lows 1.5491, and highs 1.5520.
Technically, today’s trading session on Thursday (17/09), pound sterling-dollar pair has an opportunity to move in a positive trend.
The strengthening of the pound sterling mainly expected soon reexamine the minimal resistance at 1.5575 and maximum 1.5625. Meanwhile, if the pound sterling was able to break and stays below 1.5512 then another alternative scenario, ie the pound sterling likely to test support in the area of 1.5500 and 1.5440.
Gold Rally After CPI Data
Gold prices rallied to a tertinginya week as the weakening dollar and weak US inflation data for August make tomorrow the market expects the Federal Reserve will refrain from raising interest rates. Consumer Price Index (Consumer Price Index / CPI) fell for the first time since January this year.
US central bank officials have been worried about the development of consumer price increases remained below the target of 2% in recent months and raised interest rates may increase the risk of deflation. CPI data also makes the US dollar weakened against most major currencies. Prospects delay interest rate hikes and lower valuation of the US dollar is a positive sentiment for gold are denominated in Dollars and do not give flowers.
Gold prices ended skyrocketed 1.3%, or about $ 14 at the level of $ 1119.34 per troy ounce.
Technically, gold on the trading session today, Thursday (17/09) potential reversal, testing positive trend, but prone to profit taking. RSI indicator tends to re-test resistance and aiming the bullish channel, but Bollinger Band begins to shrink, thereby 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 1125.25 and re-test the maximum level of 1130.87. But if the gold price could not break and stays below 1120.50 then predicted gold prices could potentially test the Support 1118.10 and 1113.25.
