Market Analyse Friday 22 march 2013

Nikkei Rises After Break Today

Japanese shares for trading on Thursday closed up. Plus some fundamental sentiments provide sufficient impetus for the movement of solid stock. The fundamental sentiment of which is a positive market after Haruhiko Kuroda, the new BoJ governor did his first speech that also give testimonials about the monetary sector performance improvement plans in Japan.

Technically, the index on the trading session today, Friday (22/03) likely strengthen, test positive trend. In M15 chart formidable bullish hammer provides an opportunity for the index to move upside. However, the volume is likely to increase, as well as an early indication of bullish index. In addition, RSI, on the M15 chart, is in oversold area, cue upside.

It is estimated, the index tested the first resistance level of 1623.57 and 1630.13. If it fails at 1614.90, the index is expected to tend to the next level Support reexamine the possibility of 1608.55 and continued to be in the area of ​​1601.81.

                            

Comments ‘dovish’ Kuroda Profitable Yen

The yen strengthened against the U.S. currency despite the Governor of the Bank of Japan, Haruhiko Kuroda, vowed to take any action in order to achieve the inflation target of 2% in about 2 years. Kuroda also said that the BoJ should not rely on currency movements to combat deflation.

Technically, the trading session today, Friday (22/03), the dollar yen pair has a chance to move in a negative trend.

A weaker yen is mainly expected to immediately re-examine the minimum Support at 94.26 and 93.71 maximum. Meanwhile, if the Yen able to break and hold above 94.91, then another alternative scenario that Yen opportunity to test existing Resistance 95.41 and 95.89 area.

                         

Soaring gold, Buru Commodity Investor Safe Haven

Gold prices for Friday’s trading again rose and touched its highest level in three weeks. Gold rebounded after the rise of the market. Markets back after commodity safe haven along with the worsening U.S. and European economic data marked by rising U.S. jobless claims and manufacturing data and a decline in European service sector.

Technically, gold trading session today, Friday (22/03) potential reversal, tested positive trend, but prone to profit taking. RSI indicator tends to re-test resistance bullish channel and into the area, but the Bollinger Bands are starting to shrink, thus giving impetus to gold to the downside.

Estimated gold price immediately prior to test resistance at least in the area of ​​1624.66 and re-test the maximum level of 1630.00. However, if the gold price could not break and stays below 1614.90 then predicted the gold price could potentially test the 1608.62 and 1602.88 Support.