Japanese Stocks Rose
Japanese stocks ignore the negative movement of the US market overnight to trade higher on early Wednesday, although the movement is still flat ahead of a series of economic data, which will be released on Friday.
The Nikkei Stock Average rose 0.2%, erasing a loss of 0.2% in the previous session. Dollar moves just a little changed against the yen, bought at 119.77 yen compared with 119.55 in late trading Tuesday, and the largest exporter shares moved mixed.
Sharp Corp. shares fell by 0.8%, Sony Corp and Nissan Motor Co. are both only slightly changed, Hitachi Ltd. shares rose by 0.2% and shares of Toyota Motor Corp. rose 0.1%.
New products are launched seems to help some companies, such as Nikon Corp. shares rose 2.4% as the company reported that they meluncurukan some new cameras, ahem Citizen Holdings Co. which shares rally 1.4% over the Nikkei newspaper reported that the unit Citizen Electronics has developed “one of the thinnest watches that can be used for a number of smartphones and other devices.
Real estate company shares bounce back, with shares of Mitsubishi Estate Co. rose 2.5%, while the large banking stocks moved slightly lower back, with Mitsubishi UFJ Financial Group and Sumitomo Mitsui Unc Mitsui Financial Group Inc., each of which fell 0.2%.
Technically, the index on the trading session today, Wednesday (03/25) 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 19550 and 19480. If it fails in 19600, we then estimated the index tends to retest the resistance level that is 19 635 and continued until the possibilities are in the area of 19 680.
Yen Tends Depressed
Yen against the US dollar is still the downward trend on Wednesday (25/3) .After of US data last night reported a rise in consumer prices.
In the USDJPY spot trading flat at 119.75 level. Data from Japan, SPPI for March projected market declined 3.3% from 3.4% the previous month. Then from Australia at 7.30am will be reported RBA financial stability review.
Department of Labor on Tuesday said that the consumer price index rose 0.2% in February, core prices except food and energy prices also rose 0.2%, while the annual data from a profit of 1.7%. Thus the yen still tend to be depressed.
Technically, the trading session today, Wednesday (03/25), 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 119.10 and 118.50 maximum. Meanwhile, if the Yen was able to break and hold above 119.66, then the other alternative scenario that Yen chance to test resistance in 119.90 and 120.30 area.
Gold Price Rally Still Underway
The price of gold back end to trade early this morning by posting impressive gains (25/3). Precious metal prices posted a rise for five consecutive sessions amid increasingly strong expectations that the benchmark interest rate in the United States will be delayed until September gains.
Spot gold prices rose to the highest level since March 6 in trading yesterday. This commodity prices led to record the longest phase of the increase since January last year. Investors returned to seek refuge in gold instrument during the past few days in the middle of the drop in the dollar exchange rate.
Officials Fed President James Bullard said that the first interest rate hike is likely to be in the summer. Despite the rise in interest rates is expected to happen this year but on the amount and speed Fed still has not given clear direction.
Spot gold prices in late trading Wednesday morning closed at 1192.95 dollars per troy ounce. Prices have increased compared to the previous closing at the level of 1189.35 dollars. Spot gold prices rose daily at 13.60 dollars, equivalent to 1.14 per cent.
Meanwhile Comex gold futures prices for April contracts observed an increase of 3.70 dollars, or 0.3 percent. The commodity price closed at 1187.70 dollars per troy ounce.
Analyst estimates that the spot gold price movements today LLG will again increased although it will tend to be limited. In early trading this morning gold price movements observed a slight retreat.
In this day trading price of gold could potentially test the resistance level at position 1200 dollars per troy ounce. If successfully penetrated the price will continue to rise again to the position in 1220 dollars. Meanwhile, if there is movement which turned lower price will test the support level at the position in 1180 dollars. If successfully penetrated the price will continue weakening to the position in 1170 dollars.
Technically, gold in today’s trading session on Wednesday (03/25) 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 1184.33 and re-test the maximum level of 1180.73. However, if the price of gold is able to break and hold above 1189.70, the estimated price of gold could potentially test the 1191.40 and 1195.72 resistance.
