Nikkei Weekend Opened Anger
Japanese cherry country shares Friday morning (17/4) opened with the Nikkei index turned lower from the previous closing. Japanese yen managed to bounce back at the end of US trading last night be a debilitating in early trading this morning the stock market.
Japanese Yen continued strengthening of the US at the end of trading session last night with rose by 15 pips or a 0.12% which is 119.00 weaken exporters back in early trading this morning as Fanuc shares weakened significantly by 0.91%, stocks opened lower Hitachi significantly by 0.96 %, Kawasaki shares opened lower Heacy Industry significantly by 0.65%, stocks opened lower Nikon at 0:48%, ssaham SCREEN Holdings opened weakened significantly by 4.70%, stocks opened lower Sony significantly by 3%, and Japan Airlines shares opened significantly weakened by 0:50% who responded to the rise in world oil prices were detrimental to the airline.
The movement of Nikkei index opened lower this morning by 94.76 points or 0:48% which became 19791.01 points from the previous closing position at 19885.77 points to reach the previous highs at 19894.35 points and the previous low at 19742.12 points. Likewise, the movement of Nikkei index futures opened lower this morning by 20 points or 0:11% which is 19:15 points from the previous closing position at 19,835 points to reach the previous highs at 19 894 points and the previous low at 19 742 points.
Based on the previous closing, then Analyst Vibiz Center estimates that the movement of the Nikkei index today will still try to penetrate the next resistance at 19 910 points with MA5 on BB10 daily, if it is able to penetrate the first resistance it is estimated that it will try to penetrate the next resistance at 20,000 points with MA5 on BB10 daily.
If the index movement turned toward weakening is expected that the movement will try to penetrate the support at 19 785 points with MA5 on BB10 daily, if the movement broke through the first support is expected to try to penetrate the next support at 19 715 points with middle MA5 BB10 daily.
Technically, the index on the trading session today, Friday (17/04) is likely to strengthen, test positive trend. At the M15 chart bullish hammer formation provides opportunities for the index to move upside. However, the volume of which is likely to increase, as well as an early indication of bullish index. In addition, RSI, the M15 chart, are oversold, signaling upside.
It is estimated, the index test the first resistance level of 19 880 and 19 805 19950. If you fail, then the next index is expected to tend to retest the support level that is 19 760 and proceed to the possibility of being in the 19700 area.
The Pound Observed Gains Ahead of US Data
Movement in the currency market on Thursday (16/4), the pound strengthened against the US dollar observed when the market is waiting for US economic reports this evening.
The course of trading in the European session, GBPUSD rose 0:40% in the level of 1.4901 where the pair is observed to move hit a session low 1.4812 to 1.4939 level daily and daily highs for the session.
The pound strengthened against the US dollar was observed, when the demand for the greenback fell due to the emergence of speculation among the markets that interest rate hikes by the Fed will be delayed due to weak signs of US economic recovery.
Meanwhile turmoil for the movement of pounds will re-occur, when the market will be met with a report of the American economy at 19:30 Jakarta time.
When a series of economic reports showed a decline in US economic growth, the opportunity to continue strengthening pounds can occur. Vice versa, if the economic reports showed an increase in economic growth in the US then it has the potential to weaken the British currency.
Technically, today’s trading session on Friday (17/04), the pair Euro-dollar likely to move in a positive trend.
The strengthening of the pound sterling primarily expected soon reexamines the minimum resistance at 1.4990 and 1.5050 maximum. Meanwhile, if the Pound was unable to break and stays below 1.4935 and another alternative scenario that Pound chance to test support in 1.4900 and 1.4850 area.
Gold Futures Ended Low
Gold futures prices ended lower on Thursday, but remained near the key level of $ 1.200 / onz, get some support from a weaker US dollar as investors consider a series of US economic data and developments related to Greek debt.
Gold for June contract on the Comex fell $ 3.30, or 0.3%, to end at $ 1.198 / onz after touching an intraday low of $ 1,194.30.
Richard Gotterer, director and senior financial advisor at Wescott Financial Advisory Group said that gold seems stuck between rock and hard place amid investors consider the prospect of higher interest rates in the US in the near future to the ongoing events in Greece.
Standard & Poor’s cut Greece’s debt rating and fears of default have been “keep moving gold near $ 1.200 critical level,” he said. “We would expect the gold is still in a fairly narrow trading range until there is an event that is certain.
Greek government bonds slumped on Thursday, sending Greek bond yields tenor of 2 years is above 27%. Greece is in danger of running out of cash if the bailout money from international kerditor not get immediately. Because talk of an extension program for state aid is still protracted.
Losses on gold are limited due to the weakening dollar after a series of US economic data that pessimistic. Initial jobless claims for the second week in April rose to its highest level in six weeks. The number of home purchases in March, slight rebound, while the Philadelphia Fed manufacturing index in April showed a moderate increase
Technically, gold in today’s trading session on Friday (17/04) 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 1193.80 and re-test the maximum level of 1188.10. However, if the price of gold is able to break and hold above 1198.20, the estimated price of gold could potentially test the 1197.10 and 1195.25 resistance.
