Japan Stock Index Decline
Japanese stocks fell, after posting the biggest weekly gain in six years, as banks and commodity stocks slumped amid a strengthening yen.
The Nikkei 225 index fell 0.6% to 15 920 at 7:40 pm, and the yen traded at 112.65 per dollar, near its strongest level in a week. The greenback was lower despite data on Friday showed consumer prices in the US during the period of January rose to its highest level in almost four years.
Chief security analyst at Okasan Securities Co. in Tokyo said the yen was at 112 impilkasikan drop in single digit in the company’s earnings. Maybe the Japanese stock market will not get support on this day. He also added that US interest rates in the future depang shows there are opportunities for higher, but even so there are differences in the value of the yield, the yen will not weaken at this time because it is difficult for investors to take risks.
Technically,
Resistance: 16160 16230 16300 High / Low: 16110/15770
Support: 16030 15960 15810 Running Price: 16105
Comment: For intraday trade today suggest Sell at the level of 16140 stop loss at the level of 16200 targets at the level of 15906.
Yen Weakens Against US Dollar
Japanese Yen earlier in the week observed to weaken against the US dollar on Monday (22/2) as of annual exports are falling.
USDJPY rose 12:28% to 112.98. The report looked variety of data, such as the value of exports fell on an annual basis is lower than expected, triggered since the global financial crisis as a weak demand in China. Japanese finance ministry data showed exports fell 12.9 percent in January as from a decrease in shipments of steel products and oil.
It was the biggest decline since October 2009, whereby when the global financial crisis knocked demand worldwide. Elsewhere, the latest data added to concerns that the Japanese authorities remain proactive in policy, such as from the month which surprised the markets by adopting negative interest rates to trigger momentum.
Technically,
Resistance: 113.30 113.70 114.20 High / Low: 112.94 / 112.42
Support: 111.50 112.00 112.50 Running Price: 112.93
Comment: For intraday trade today suggest Buy at the level of 112.50 stop loss at the level of 112.25 the target at the level of 113.70.
Gold Price Retreat By Profit Taking
Gold prices retreat at the closing weekend, Saturday due to investor profit taking after a few days earlier there was an increase of 2 percent, despite expectations that interest rates will remain at record lows there served to keep the price above $ 1,225 per ounce.
Spot gold prices fell 0.34 percent at $ 1,227.81 per ounce, and on a weekly basis dropped 0.5 percent, the first week of fall in five weeks.
US gold futures for April delivery closed up 0.4 percent to $ 1,230.80 and last traded at $ 1,228.10.
Prices remain up nearly 16 percent so far this year, with turmoil in financial markets sparked wider interest in the precious metal as a safe haven asset related fears the possibility of further interest rate hikes by the US Federal Reserve.
Increased rental rates and healthcare costs lifted US inflation in January to the highest position nearly 4-1 / 2 years, signs of rise in price pressures may allow the Federal Reserve to gradually raise interest rates this year.
Global stock markets fell as oil prices weakened, while the short-term US bond prices rose after economic data raised the possibility of higher US interest rates this year.
On the physical market, gold demand slowed Asia this week with a discount in key consumer India at a record high.
While the price of silver futures fell 0.4 percent at $ 15.37 per ounce. The value of gold compared to silver hit its highest in more than seven years on Friday, with one ounce of gold worth 80 ounces of silver. While the price of Platinum was down 0.5 percent at $ 941 and the price of palladium fell 0.9 percent to $ 495.75.
Yesterday will be released economic indicators data Markit Flash PMI Manufacturing in February, which is indicated to decrease from the previous results and if these results are realized can hit US dollars.
Technically,
Resistance: 1226.50 1228.80 1130.80 High / Low: 1226.00 / 1223.20
Support: 1222.00 1218.40 1216.10 Running Price: 1224.30
Comment: For intraday trade today suggest Sell at the level of 1227.30 stop loss at the level of 1229.80 the target at the level of 1217.30.
