Yen Worsens Performance Nikkei
Nikkei slips as the continued strengthening of the yen also undermined investor optimism about the outlook for Japanese exporters’ earnings. USDJPY traded now 117.85; away from high-level daily 118.47 achieved in early Asian session. A weaker yen is one of the factors sustaining the performance of the index so that the strengthening of the exchange rate of the Japanese currency also give negative sentiment on the performance of the Japanese stock market. The Nikkei 225 fell 2.04% and is now trading at 16 845.
However, investors appear reluctant to push the index’s fall deeper after Japan’s current account data is better than expected assuage investors’ concerns over the Japanese economy. Although lower than the publication in October which recorded a surplus of 833.4 billion yen; but the current account surplus reached 433 billion yen in November, better than expected surplus of 133.2 billion yen.
Energy sector and other related industries are still the focus of the oil price again scored 5-year low prices in the beginning of the Asian session. Investors are worried that the sharp fall of oil in the last 6 months will undermine the outlook for corporate earnings energy. That concern is reflected in the statement of the oil refining company JX Holdings said it will not reach the estimated revenues due to falling oil prices. JX Holdings shares fell 1.8%, while Japan’s biggest energy explorer Inpex Corp. dropped 4.2%.
Technically, the index on the trading session today, Tuesday (01/13) likely to weaken, test negative trends, the impact of Wall Street. At the M15 chart formations bearish engulfing provide 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 level of support in advance ie 16825 and 16750. If it fails in 16885, then the next index is expected to tend to reexamine the level of resistance that is 16 925 and continued until the possibilities are in the area of 16 970.
Safe Haven Demand On Strengthen Yen
The yen rose against major currencies as the level of demand for safe-haven and after the best predictor yen said not recommend separately sell the yen in a few months with a decline in oil prices helped Japan’s trade balance. The dollar index closed near its highest level in the first decade of yesterday as the Federal Reserve to consider a rate hike the first time since 2006.
The Australian dollar, Kron Norway, and the Canadian dollar traded flat after tumbled yesterday.
Jens Nordvig, managing director of currency research at Nomura Holdings Inc., said a decrease of 45% in oil prices since the end of October it would cut Japan’s trade deficit of about 500 million dollars. “For several years we are very focused to trade the yen from the short, but actually we do not really short for a few months,” said Nordvig. “The decline in oil prices is positive for Japan’s trade balance.”
Technically, the trading session today, Tuesday (01/13), the dollar yen pair a chance to move in the negative trend.
The weakening of the yen mainly expected soon reexamine Support minimal namely at 115.10 and a maximum of 113.70. Meanwhile, if the Yen was able to break and hold above 117.85, then the other alternative scenario that Yen chance to test resistance in 118.25 and 119.50 area.
Gold and Silver Prices Skyrocketing Ahead of Chinese Trade Balance Data
Trading commodity exchanges precious metals on Tuesday (13/1), the price of gold and silver was observed to be traded higher as market concerns continue to occur due to the decline in crude oil prices.
Ongoing trade in the Asian session, gold futures for February delivery was trading higher 0:33% at $ 1.236.90 per troy ounce on the Comex division of the New York Mercantile Exchange. Gold price movements on this day was observed to move hit a session low $ 1.230.80 to $ 1.239.10 level daily and daily highs for the session.
As for silver futures for March delivery was trading higher 1:02% at the level of $ 16,733 per troy ounce by moving touched a $ 16,570 for sessions daily low and the level of $ 16,773 for sessions daily highs.
The increase in the price of gold and silver continues to this day, when the market was concerned about the decline continued in the natural by commodity prices for crude oil.
Meanwhile, the market’s attention today is also being directed to report the trade balance China. Survey of economists have estimated that the trade surplus of China will experience a narrowing of the seasonally adjusted 48.9B in December.
Along with economists’ forecasts stating that the occurrence of narrowing the trade surplus of China, it is a threat to the gold price for natural attenuation. However, if the trade surplus of China extends then this is an opportunity for the price of gold and silver mempersolid gains today.
Technically, gold trading session today, Tuesday (01/13) the potential reversal, tested positive trend, but prone to taking profit. RSI indicator tends to re-test resistance and aiming the bullish channel, but Bollinger Bands that began to shrink, thus giving impetus to the gold to the downside.
It is estimated that the price of gold soon test the resistance to first minimum in the area of 1241.50 and re-test the maximum level of 1245.10. However, if the price of gold was unable to break and stays below 1237.40 then predicted gold prices could potentially examine Support the 1235.90 and 1234.10.
