Japanese Yen Restrained, Nikkei Futures Translucent 20000 Points
Started the Japan Tokyo Stock Exchange trading on Friday morning (10/4), the Nikkei is still continuing signal amplifier previously traded with the Nikkei index futures which penetrate at 20,000 points. Japanese yen fell against the dollar back at the end of US trading last night is still a signal amplifier for shares of exporters this morning.
The Japanese yen is still under intense pressure by the US dollar weakened last night by 45 pips or 0:37% to 120.58 from its previous close at 120.15 position, so it is still a positive sentiment strengthens exporter shares this morning.
The amplifier stock is a stock Honda Motor rose significantly by 0.72%, Isuzu Motors shares rose significantly by 0.62%, shares of Mitsubishi Heavy Industrial rose significantly by 0:52%, Nissan Motor rose significantly by 1:35%, Sony shares rose significantly by 0:55%, and Toyota Motor rose significantly by 0.60%.
Nikkei index opened higher this morning by 51.83 points or 0:26% which became 19989.55 points from its previous close at 19937.72 position to reach the highest point at 19957.32 points and the previous low at 19822.49 points. Likewise, the movement of Nikkei index futures opened higher this morning by 50 points or 0:25% which is 20 045 points from the previous closing position at 19,995 points to reach the previous highs at 19,995 points and the previous low at 19 845 points.
Based on the previous closing, then Analyst Vibiz Research Center estimates that the movement of the Nikkei index today will try to break through resistance at 20000 points with over 10 MA5 bolinger daily, a break in the first resistance is expected to try to penetrate the resistance at 2,090 points with bolinger top 10 MA5 daily.
If the movement of the index turned lower, it is estimated that the movement of the index will try to penetrate the support at 19 820 points with over 10 MA5 bolinger daily, a break on the first support is expected to try to penetrate the next support at 19 713 points with over 10 MA5 bolinger daily.
Technically, the index on the trading session today, Friday (10/04) 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 tends to rise, early indications bullish index. In addition, RSI, the M15 chart, are oversold, signaling upside.
It is estimated, the index test the first support level that is 19840 and 19750. If it fails at 19 910, then the next index is expected to tend to retest the resistance level of 19950 and continued until the possibility of being in the 20010 area.
Yen Weakens Slightly Ahead
The movement of the currency market on Friday (10/4), was observed to slightly weaker yen against the US dollar ahead of the release of a Japanese economic reports this morning.
USDJPY monitored rose a 0.01% to trade at 120.59 where the pair is seen moving hit a daily low of 120.53 for the session and the highest level of 120.64 for the daily sessions.
Natural look slightly weaker yen against the US dollar this morning ahead of the release of Japan’s economic growth report at 6:50 pm Jakarta time. The economic report includes data bank lending in the region of Japan.
Report this data may provide turmoil movement for USDJPY pair, wherein if the Japanese economy strengthened the emergence of potential weakness experienced by the US dollar because it will push up the yen. But on the contrary, if the Japanese economy slowed the potential of natural strengthening US dollar may occur.
Technically, the trading session today, Friday (10/04), the dollar yen pair a chance to move in the negative trend.
The weakening of the yen mainly expected soon reexamine the minimum support at 120.05 and 118.10 maximum. Meanwhile, if the Yen was able to break and hold above 120.52, then the other alternative scenario that Yen chance to test resistance in 120.80 and 121.70 area.
Muted Gold Strengthening Dollar
Gold fell for three consecutive days as investors are still digesting the slightly hawkish tone of the minutes of the Federal Reserve meeting last month and gave in to the pressure bullish dollar. US jobless claims data are still at a low level also weighed on gold trading before the New York session.
Gold is headed for its first weekly decline since March 13 after Fed officials last month split in deciding to raise interest rates in June. Although market participants are skeptical that interest rates will be raised in June, the potential rise in interest rates keep the bearish tone for the gold trade. Strengthening of the dollar, since the signal is strong enough hawkish Fed, keep pressing the lower gold price.
Gold closed the trade at the level of $ 1194.35 per troy ounce, with daily highs and lows $ 1,203.10 $ 1,192.57 daily.
Technically, gold in today’s trading session on Friday (10/04) 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 Bands that began to widen, thus giving impetus to the gold to the upside.
It is estimated that the gold price immediately prior to test support in the area of at least 1190.10 and re-test the maximum level of 1185.25. However, if the price of gold is able to break and hold above 1194.40, the estimated price of gold could potentially test the 1197.20 and 1213.10 resistance.
