Recent BOJ Policy Prevent Nikkei To Gain
Throughout the trading Japanese stock market on Monday, the Nikkei appeared to be not able to be released from the strong Japanese yen, due to a positive response from investors over recent policy BOJ still maintain and will boost monetary policy dilaju annual ¥ 80 miiliar to prop up the economy in country is currently growing moderately, although the performance of domestic exports slightly hampered by the impact of a slowdown in the economic performance of developing countries.
Ballast Japanese stock market today is the stock Hino Motors -5.32%, -5.15% stake Mitsubishi, Mitsubishi Materials -4.69%, Nippon Paper Industries -4.28%, shares of Mitsui Mining & Smelting -4.24%, -1.86% Toshiba shares, Sony shares -3.56%, -4.57% stake in Isuzu Motors, Nissan Motor -2.90%, Honda Motor -2.29%, -2.15% stake in Suzuki Motor, and Mitsubishi Motors -1.20%.
Nikkei spot index today is still experiencing severe pressure by 235.40 points or by -1.31%, to be 17645.11 points from the closing position at the end of the previous stock exchange trading on the position of 17880.51 points and capable of achieving the highest level of trading on the stock exchanges today on position 17886.49 and the lowest point at 17562.60 points position.
Similarly, the movement indks Nikkei futures on Monday, which was closed plunged 285 points or 1:58%, to be 17 675 points from the closing position at the end of the prior week at position 17 960 points and managed to record the highest increase traded today at position 17 850 points and lows in the position 17 595 points.
Continue on the Japanese stock market trading Tuesday, investors are expected to look forward and respond to the results of the release of industrial production data, retail sales data, the data Construction Order, as well as the Housing Starts in the country.
Technically, the indexes on the trading session today, Tuesday (09/29) 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 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 17025 and 16910. If it fails at 17 090, then the next index is expected to tend to retest the resistance level 17130 and continued until the possibilities are in the area 17 180.
Yen Slightly Cloudy
Yen lasted slightly stronger in Asian trade on Tuesday (29/9) morning sustained by demand for regional data.
USDJPY fell -0.02% to 119.90. Overnight, the dollar erased gains against other major currencies after home sales unexpectedly fell last month, it was reported by the US National Association of Realtors pending home sales fell 1.4% in August, confounding expectations for a 0.4% gain after 0.5% in the previous month.
Earlier Monday, US Bureau of economic analysis reported that personal spending rose 0.4% in August, beating expectations for an increase of 0.3%. Personal spending rose 0.4% in July, whose figure was revised from a previously estimated 0.3% gain.
Another report also showed that personal income increased by 0.3% last month, compared with an estimated 0.4%. Personal income rose 0.5% in July. Demand for the yen as a safe haven strengthened after the IMF chief Christine Lagarde said in an interview on Monday that the IMF may revise growth forecasts for the global economy due to slower expansion in developing countries.
Technically, the trading session today, Tuesday (09/29), the dollar yen pair has an opportunity to move in a negative trend.
Weakening Yen mainly expected soon reexamine the minimum support at 118.50 and 117.25 maximum. Meanwhile, if the Yen is able to break and hold above 119.64, then another alternative scenario the Yen chance to test the resistance at 119.90 and 120.50 area.
Gold Worst Due On US Interest Rate Prospects
Natural golden worst session in almost 2 1/2 weeks on Monday, extending losses from Friday ahead of key US employment report to be released this weekend that could increase confidence that the Federal Reserve will Raise interest rates this year.
Spot gold prices fell by 1.5% to a session low at $ 1,127.70 / onz, it is the greatest weakness since 9 September and traded in the range of $ 1,132.63.
Gold prices extend pelemahannya on Friday made after the Fed chairman Janet Yellen said that the central bank is expected to start Raise interest rates in late 2015.
US gold futures for December contract ended down 1.2% at $ 1,131.70 / onz.
Economists from one of gold investment in New Jersey said that not enough money flowing into the market, he noted that in view of the decline in equities and the rest of commodities on the day that “one should hunt for safe assets,” lost interest in gold is definitely not a sign good for the market.
Some Fed officials are scheduled to make a speech this week, maintaining a focus on US monetary policy. Traders will also closely monitor economic data, which includes data on non-farm payrolls on Friday, to gauge the strength of the US economy.
Gold this year has been down about 3% on fears demand will be hurt by the environment of higher interest rates.
Technically, gold in today’s trading session Tuesday (29/09) 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 1127.33 and re-test the maximum level of 1122.73. However, if the price of gold is able to break and hold above 1132.30, the predicted gold prices could potentially test Resistance ie, 1135.40 and 1140.72.
