Nikkei Fell, the Japanese Yen Back Stronger
Japanese cherry country stock markets Thursday morning of this week’s fourth april (30/4), opened with the Nikkei index continued weakening for four consecutive days. Japanese yen strengthened in early trading the stock exchange also be a debilitating for the stock market trading this morning.
Encouraging results in the Japanese industrial production data released on an annual basis before the stock market opened trading with shows the increase significantly to -1.2% from the previous release at -2.0% with an expectation for improvement in industrial production by economists to be 0.93%, thus also with the results of the release of Japanese industrial production data on a monthly basis which also showed a significant increase becomes -0.3% from the previous release at -3.1% with growth expectations by economists would be -1.16%. From the results of the release of fresh air for the movement of the Japanese yen, but weakened the Japanese stock market in early trading this morning.
Shares were hit by the strong yen as Canon shares opened significantly weakened by 1%, stocks opened lower Daikin Industries which significantly by 1:35%, Fanuc shares opened significantly weakened by 2,667%, Hino Motors shares opened significantly lower at 3.60%, Hitachi shares opened significantly lower at 0.85%.
It also shares opened lower Isuzu Motors which significantly by 0.71%, Konica Minolta shares opened significantly weakened by 2:30%, stocks opened lower Nikon significantly by 1.61%, stocks opened lower Panasoonic which significantly by 0.80%, and shares of Toyota Motor opened significantly weakened by 1%.
The movement of Nikkei index opened lower this morning significantly by 211.45 points, or 1:05% that became 19847.40 points from the previous closing position at 20058.95 points to reach the previous high at 20133.78 points and the previous low at 20039.30 points. But inversely proportional to the movement of Nikkei index futures opened higher this morning by 55 points or 0:22% which is 19 755 points from its previous close at 19,700 position points to reach the previous highs at 20 111 points and the previous low at 19 645 points.
Based on the previous closing, the Vibiz Analyst Research centers estimate that the movement of the Nikkei index today will try to penetrate support at 19.640 points with central MA5 BB10 daily, if the movement of the index broke through the first support is expected to try to penetrate the next support at 19 515 points with MA5 BB10 middle daily.
If the movement of the index reversed course to strengthen, it is estimated that the movement of the index will try resistance at 19 866 points by the middle MA5 BB10 daily, if the movement of the index is able to penetrate the first resistance it is forecast that the index movement will try to penetrate the next resistane at 19 985 points with MA5 on BB10 daily
Technically, the index on the trading session today, Thursday (30/04) likely to weaken, 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 19640 and 19580. If it fails at 19 695, then the next index is expected to tend to retest the resistance level that is 19 730 and continued until the possibilities are in the area of 19 780.
Yen Looks Consolidation Movement
The movement of the yen seemed consolidation after monetary policy decisions by the Bank of Japan policy meeting which retains its monetary policy after weighing factors increasing inflation in the long term.
The central bank will also release some economic data such as the revision of the data consumer price index fiscal-years 2015- is expected to decline as well as data of gross domestic product-to-medium term.
US dollar weakened due to the effect of the decision of the Federal Open Market Committee kept interest rates but give the signal that it would raise interest rates in the near future.
We found a potentially bearish movement further yen as investors looked no passion with monetary policy decisions the Bank of Japan even though some wait and see to await the BoJ press conference.
Euro potentially limited ahead of the release of German retail sales are expected to increase and the data French consumer spending is expected to decline as well as data change German unemployment is expected to decline.
Similarly, the data consumer price index is expected to rise then the data the unemployment rate is expected to decline as well as data prelim Italian consumer price index is expected to rise.
US dollar limited the potential to strengthen ahead of the data release unemployment claims are expected to decline later personal data and data spending is expected to increase purchasing managers index is expected to rise.
Technically, the trading session today, Thursday (30/04), 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 117.10 maximum. Meanwhile, if the Yen were able to break and hold above 118.80, then another alternative scenario the Yen likely to test resistance in 119.10 and 119.70 area.
Gold Weakens Responding Fed Policy Meeting Results
Gold fell on Wednesday after touching a 3-week highs in the previous session. The precious metal moves down closer to the level of $ 1,200 per troy ounce after the meeting of the US Federal Reserve monetary policy shows the bank still has a rate hike in June.
Strengthening the previous gold helped by a series of disappointing economic data from the US which makes the dollar weakened, and became a signal of slowing US economic growth momentum. The US economy itself grew only 0.2% reported in the first quarter of this year, far below the estimate of 1.0%.
Although capable of rising to the highest level in three weeks, but the positive sentiment towards gold seemingly only temporary. It is seen from the report SPDR Gold Trust, the biggest gold-based ETF in the world, which showed a decrease in asset holdings by 0.44% to 739.07 tonnes on Monday, and was the first drop in the last two weeks.
Gold trade on Wednesday closed at $ 1,204.75, per troy ounce, with daily highs and lows $ 1,213.97 $ 1,201.31.
Technically, gold in today’s trading session on Thursday (30/04) 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 1200.10 and re-test the maximum level of 1195.50. However, if the price of gold is able to break and hold above 1204.40, the estimated price of gold could potentially test the Resistance 1205.20 and 1207.35.
