Asia Closing: Prices supported across different markets despite lower US stock prices

USD/JPY H1

USD/JPY continue to climb despite a risk off sentiment during Late US session. Currently price is flat during most of Asian session with H3/ 79.5 acting as significant resistance. Analysts attributed the rally to BOJ intervention speculation.

AUD/USD H1

Price hitting support zone marked by L3- Yesterday’s Low. Though L3/L4 should be considered a support/resistance area using standard camarilla methodology, looking at how price rallied on 16 and 17th Oct, a better support could potentially be found closer to L5 which is close to consolidation on 16th Oct. A failure to break below current levels may push price back up to 18th Oct trading range.

NZD/USD H1

Kiwi may be changing its tune from a bearish one to a bullish one, with the sell off barely testing the downward channel top, and price never looked close to Yesterday’s Low unlike Aussie, Fiber and Cable. Resistance could be found around H4 which is Yesterday’s consolidation area before the sell-off.

Hang Seng Index Futures M15

A very muted day for the Hong Kong index as price did not move beyond 60 points today despite the negative sentiment during US hours yesterday. It appears that Bulls and Bears are in a deadlock with prices potentially breaking up higher or lower significant next week when the upward trendline comes into play eventually.

Nikkei 225 Futures H1

Bottom of Rising Channel acting as a resistance as price tried to break back into the Channel but ultimately failed to do so. Resistance found along Yesterday’s high and H3 also contributed to the strong overhead pressure downwards. Price could find support around round number 9,000. L3/L4 may not be as strong as Yesterday’s low in terms of support strength due to the same reason as AUD/USD above.

Bottomline:

Mostly horizontal for currencies and equities except for AUD/USD which is threatening to break lower. Market appears to be waiting for the big announcement from EU Summit and that will most likely shape momentum direction the coming Monday.

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