Asia Closing: Bulls take a breather on Friday.

USD/JPY H1

USD/JPY traded in a tight 15 pip range during today’s session. Prices are capped below H3 while support is found around top end of consolidation zone of 9th and 10th Oct.

AUD/USD H1

Similar to USD/JPY, prices are kept below H3. AUD/USD could be forming a new consolidation channel between 1.026 to 1.029, with confluence of Channel Bottom and upward rising trendline providing support intraday.

NZD/USD H1

Trading in a range dating back to 9th Oct. Without any significant data release from New Zealand, it is unlikely that NZD/USD will move against risk-on/off sentiment. Current price is trading between H4-H5 with Yesterday’s high and H4 acting as support.

Hang Seng Index Futures M15

HSI finally claim 21,000 as a firm foothold after failing to to do so on 9th and 10th October. Price traded between H3-H4 for most of the trading day. 21,000 will remain to be line in the sand for traders next week.

Nikkei 225 Futures H1

Prices didn’t move much today, showing an inside day candle. Support today seen at Yesterday’s Low while resistance can be potentially found at H3 level , or perhaps lower at 8,615 which is the resistance/support on 11th October.

Bottomline:

After strong selling early week, bulls survived and we’ve seen prices being broadly supported since yesterday. Early next week will be important as traders will look out for signs of bearish continuation or perhaps an extension of the bullish recovery we’ve seen today.

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