Asia Closing: October ended positive Equities, mixed for currencies.

USD/JPY H1

Price rally back up close to pre BOJ announcement level as risk sentiment weakened safe haven currencies. Potential resistance levels against current rally includes H3, H4/ Yesterday’s High, and ultimately 25th Oct high. Support could be around 79.50 once again which was acting as a support before post BOJ selling and also consolidation level this morning.

AUD/USD H1

Potentially breaking the 1.04 resistance that was still holding strong as recent as last week. Price could embark on a new journey towards 1.05 which was last attempted on 21st Sep, before the sell-off leading to 1.015. Failing to break 1.04 exposes 1.03 suggesting price could once again be oscillating inside the 100 pip consolidation zone.

NZD/USD H1

Also appear to be trending flat, but NZD/USD does not appear to be in a hurry to test the consolidation top at around H4 and Yesterday’s High level. H3/H4 zone provides resistance, with a break opening up H5 while L3/L4 acts as support, similarly opening up L5 should price breaks the consolidation zone.

Nikkei 225 Futures H1

Price has rallied back to 9,000 levels after failing to hold on to it just a few hours ago. Failure to hold onto this critical level once more will weigh heavily on sentiment. L3/L4 and the confluence with Yesterday’s Low could act as support should bulls fail again this time round.

Hang Seng Index Futures M15

After bouncing from 1st May’s high, price push higher above Yesterday’s high but stop short of 23rd Oct low. If we gap open higher above today’s close, we could open up trading range between 21,650 – 21,850. Gap lower will potentially push price back below 21,600 to 21,300 range.

Bottomline:

No new development today, with prices still staying within ranges established earlier this week. Nonetheless, Equities closed out October with a small gain, which will encourage bulls in the coming months coupled with seasonality feel good factor.

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