JPMorgan Estimate Dollar Will Weaken Further vs Yen
Dollar higher risk for weakened against the yen and extended its biggest weakness in 6 months, according to JPMorgan Chase & Co., the global market was possessed by anxiety slowing growth rates and inflation.
Technically, the trading session today, Thursday (16/10), the dollar yen pair likely to move in a negative trend.
A weaker yen is mainly expected to immediately reexamine the minimum support at 104.50 and 102.10 maximum. Meanwhile, if the Yen was able to break and hold above 106.04, then another alternative scenario that is likely to test resistance Yen in 107.90 and 109.50 area.
Kospi futures Drops to 14 Month Low Thursday Morning
South Korean stock market fell sharply and reached its lowest level in the past 3 months on Thursday’s trading session this morning (16/10). Exchange declined for two consecutive days due to selling pressure that occurs in the leading stocks.
Technically, the index in the trading session today, Thursday (16/10) likely to weaken, test negative trends, the impact of Wall Street. On the bearish engulfing formation M15 chart gives an opportunity for the index to move downside. However, the volume is likely to increase, an early indication of a bullish index. In addition, RSI, on the M15 chart, is in the oversold area, cue upside.
It is estimated, the index test in advance the level of Support 240.50 and 238.10. If it fails at 242.90, then the next index is expected to tend to retest the 243.80 resistance level and continue until the area is likely to be 245.50.
Print Gold Rally Longest In 2 Months In Action Buy Haven
Gold on the lid with the longest rally since August as the global economic slowdown and the decline in US equities that has revived the demand for the precious metal as a haven asset.
Technically, gold at today’s trading session on Thursday (16/10) potentially bearish, tested negative trend back, but prone to reversal. The RSI indicator tends to re-test support channel and towards the oversold area, but Bollinger Bands which began to widen, thus giving impetus to gold to the upside.
It is estimated that the price of gold immediately prior to test support at least in the area of 1235.50 and re-test the maximum level of 1230.80. However, if the price of gold is able to break and hold above 1240.10 then estimated the price of gold has the potential to test the 1243.50 and 1248.80 Resistance.
