Yen Fell, Nikkei Back Streaking
Japan Tokyo Stock Exchange trading on Tuesday morning (10/3) successfully opened reversed mengguat from the previous closing the shut down. Strengthening the beginning of trading was bolstered by the weakening of the Japanese Yen back to 3-month lows against the US dollar.
The weakening of the Japanese yen against the US dollar at the end of the US trading session penetrate 121.42 or weakened by 30 pips or 0:25 which is 121.15% of the position opening at 120.85 to reach the highest at 121.42 and the lowest at 120.60 which is still influenced by positive US employment report that provides direction to buy back shares of exporters.
The exporter stocks are stocks Hino Motors rose significantly by 1:10%, Honda Motor rose significantly by 0.85%, Isuzu Motors rose significantly by 1.60%, Mazda Motor gained limited amount of 0.02%, Mitsubishi Motors rose significantly by 0.82%, and Suzuki Motor rose significantly at 1:30%. There are also strengthening Canon shares rose by 0:11%, Fujitsu significantly higher of 1.05%, significantly higher at 1:21 Nikkon%, Panasonic rose significantly by 0.70%, and Sharp rose significantly by 1.70%.
The movement of Nikkei index in early trading today opened higher by 100.46 points or 0:53% which became 18.891.01 points from its previous close at 18790.55 position to reach the highest point prior to 18875.15 points and the previous low at 18733.87 points. And movement of the Nikkei index futures also opened higher by 20 points or 0:10% being 18 895 points from the previous closing position at 18 875 points to reach the previous highs at 18 885 points and the previous low at 18 745 points.
Based on the previous closing, then Analyst Vibiz Research Center estimates that the movement of the Nikkei index today will move diteritori positive by trying to break through resistance at 18 897 points with the middle 10 MA5 bolinger daily. If the movement of the index is able to penetrate the resistance at 18 897 points, then it is estimated that the movement of the Nikkei index will try to penetrate the next resistance at 19,000 points.
If the movement of the index is not able to penetrate the resistance at 18 897 points eating is estimated that the movement of the index will try to penetrate the support at 18 736 points with the middle 10 MA5 time bolinger H4, daily. If the movement of the index is able to penetrate the support at 18 736 points, then it is estimated that the movement of the index will try to penetrate the next support at 18 659 points.
Technically, the index on the trading session today, Tuesday (10/03) 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 18 725 and 18 780 18675. If you fail, then the next index is expected to tend to retest the resistance level that is 18 810 and continued until the possibility of being in the 18850 area.
Yen Weakens Against US Dollar
The movement of the currency market on Tuesday (10/3), the yen weakened against the US dollar observed ahead of the data release of the domestic money supply Japan this morning.
USDJPY strengthened 0:33% to 121.57 where the pair is observed to move at the level of 121.14 to a session low of 121.61 level daily and daily highs for the session.
This morning the yen still looks natural attenuation, when demand for the greenback experienced a decline in the previous session due to profit-taking traders. Meanwhile, this morning, the market will be exposed to an official report of Japanese domestic money supply is expected to provide for the movement of the yen volatility.
USDJPY pair can continue strengthening if only the results of the Japanese economy experienced a slowdown in growth, and vice versa if the Japanese economy gained the potential to weaken the greenback may occur.
Technically, the trading session today, Tuesday (10/03), 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 121.10 and 120.50 maximum. Meanwhile, if the Yen was able to break and hold above 121.63, then the other alternative scenario that Yen chance to test resistance in 122.00 and 122.50 area.
Gold Prices Rebound Limited
The price of gold at the end of Tuesday morning trade limited rebound after fulfilling phase of decline for five consecutive sessions (10/3). Today the price of gold was observed to still be stuck in a pattern of weakened and in the range of the lowest level since December 1, 2014.
Gold prices worst daily decline since December 2013 on the last Friday trading. The improvement in non-farm payroll data is increasing speculation that the US central bank will raise its benchmark interest rate sooner than expected.
Gold prices ended up slightly as the dollar rallied stuck in the middle of the decline in European stock exchanges. Bargain hunting used by market participants while they await further comments from Fed Governor Janet Yellen.
Spot gold prices at the end of trading early this morning closed at 1167.05 dollars per troy ounce. The spot gold price rose slightly by 1.8 dollars, equivalent to 0.1 per cent compared to the previous closing.
Comex gold futures prices at the close of trading early this morning also seemed to increase despite limited. Gold futures for April contract rose by 2.20 dollars, or 0.1 percent on the position of 1164.30 dollars per troy ounce.
Analyst estimates that LLG spot gold price movements will tend to rise limited to trading in Asia today. The price of gold is hard to move with a solid rebound in the dollar’s value increase due to the potential increase in the Fed’s benchmark rate. Negative sentiment in the gold market is still very strong for today’s trading.
In the day trading price of gold could potentially test the resistance level at position 1180 dollars per troy ounce. If successfully penetrated the price will continue to rise again to the position in 1200 dollars. Meanwhile, if there is movement further weakened the price will test the support level at the position in 1150 dollars. If successfully penetrated the price will continue to rise to the position in 1140 dollars.
Technically, gold in today’s trading session on Tuesday (10/03) 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 1161.33 and re-test the maximum level of 1155.73. However, if the price of gold is able to break and hold above 1166.80, the estimated price of gold could potentially test the 1169.40 and 1174.72 resistance.
