Nikkei Hit Again
The movement of Nikkei index of the Japanese stock market in early trading Tuesday morning (1/9), appears to be still continuing intense pressure from the previous trade, which is still strengthening Japanese yen until early Asian session this morning.
Ballast stock market this morning is the stock FUJIFILM Holdings by 1%, Bridgestone shares -1.43%, -1.62% TOTO shares, shares of Pacific Metals -0.95%, Nippon Light Metal Holdings -2.14%, -2.89% stock Nisshin Steel, Sumitomo Heavy Industries-0.95%, shares of Daikin Industries -1.49%, -1.39% stake Hitachi, Mitsubishi Electric -1.49%, -1.35% stake Panasonic, Sony shares -1.31%, -2.74% stake in Suzuki Motor.
The movement of Nikkei this morning, it appears recorded a loss of 126.76 points, or 0.67%, to be 18.763.47 points from the closing position at the end of the previous trading at 18890.48 points position and managed to record highs earlier traded at 19019.61 points and the weakening position previous low at 18749.77 points.
Likewise, the movement of the index Nikkei Japan this morning, which recorded a decrease of 80 points or 0:43%, to be 18 825 points from the closing position at the end of the previous trading at position 18 905 points and managed to record the highest increase dipedagangan previously at position 19 045 points and the lowest decline previously at position 18 745 points.
Based on the results of the closure at the end of the previous trading, the analyst predicted that the index movement will continue weakening traded before, by penetrating the first support at position 18,640 points with MA5 under BB10 daily, if the movement of the index broke through the first support it is expected to try to penetrate the second support at the position 18.430 points with MA5 under BB10 daily.
If the movement of the index managed to turn toward stronger, then estimated to be trying to break the first resistance at position 18 950 points with MA5 under BB10 daily, if the movement of the index broke through the first resistance is expected to try to penetrate resistance at the second position with 19 190 points below MA5 BB10 daily.
Technically, the index on the trading session today, Tuesday (01/09) likely to strengthen, test positive trend. At the M15 chart bullish hammer formation to provide opportunities for the index to move upside. However, the volume tends to increase, as well as an early indication of bullish index. In addition, RSI, the M15 chart, was oversold, signaling upside.
It is estimated, the index test the first resistance level of 18700 and 18760. If it fails at 18 635, then the next index is expected to tend to retest the support level of 18600 and continued up to the possibility of being in the area of 18 540.
Yen Looks Bright
Japanese yen in Asian trading today, Monday (1/9) seemed to strengthen against the US dollar. Continued last night when data Chicago PMI slowed in August.
USDJPY fell -0.01% to 121.22. Statistical reports from Japanese financial companies in July was also observed to fall in June, the total average monthly cash income of a regular employee in Japan fell a revised 2.5% from the previous year and a drop in the first years in seven months.
From the US, the market research group Kingsbury International said that the Chicago PMI declined 0.3 points to 54.4 this month from 54.7 in July. The market had expected the index to hold steady at 54.7 in August. However, the US greenback remained supported after the Federal Reserve Vice Chairman Stanley Fischer said last week; it is still too early to decide whether interest rates will rise from almost zero at the next meeting in September.
Technically, the trading session today, Tuesday (01/09), the dollar yen pair has an opportunity to move in a negative trend.
Weakening Yen mainly expected soon reexamine the minimum support at 120.25 and 119.50 maximum. Meanwhile, if the Yen is able to break and hold above 120.88, then another alternative scenario the Yen chance to test the resistance at 121.30 and 122.00 area.
Gold Record Largest Monthly Strengthening Since January
Gold had weakened earlier in the session; gold managed to rebound and turned higher ahead of Monday’s trading. The rise in gold prices follows the movement of oil, as well as taking advantage of the weakening dollar. Gold previously depressed due to the persistence of the chances the Federal Reserve will raise interest rates in September, despite the recent turmoil in the markets.
The Fed is still open to the possibility of a rate hike in September, when the central bank conference in Jackson Hole, Wyoming, last weekend, although some officials of the US central bank gives an indication of the interest rate hike will be delayed due to the financial turmoil is prolonged. In addition to market volatility factors, data on non-farm payrolls will be the main focus this week. The data releases could be early signals whether the Fed will raise rates or not the monetary meeting which will lasts on September 17 to 18 next.
Gold in August recorded the biggest gains month since January due to the falling global stock markets in recent years. Gold in Monday trading ended at the level of $ 1135.20 per troy ounce, with daily highs $ 1136.54, $ 1125.60 and the lowest.
Technically, gold on the trading session today, Tuesday (01/09) 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 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 1145.25 and re-test the maximum level of 1150.10. But if the gold price could not break and stays below 1139.50 then predicted gold prices could potentially test the Support 1143.25 and 1148.10.
