{"id":251750,"date":"2022-06-16T06:49:12","date_gmt":"2022-06-16T06:49:12","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=251750"},"modified":"2022-06-16T06:49:12","modified_gmt":"2022-06-16T06:49:12","slug":"160622-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/160622-afternoon-session-analysis\/","title":{"rendered":"160622 Afternoon Session Analysis"},"content":{"rendered":"

16 June 2022\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

Yen rebounded following BoJ unleashed their concern over sharp drop in Yen.<\/strong><\/span><\/p>\n

The Japanese Yen rebounded yesterday following the Japan\u2019s top government claimed that they will \u201crespond appropriately\u201d by manipulating the Yen market if needed, issuing a fresh warning to market. In earlier, the overall trend for the Japanese Yen remained bearish following the Bank of Japan (BOJ) has repeatedly committed to keeping interest rate low, in contrast with other major central banks, which are flagging aggressive interest hikes to tackle inflation. The Central bank chief Haruhiko Kuroda also warned the significant depreciation of Japanese Yen would likely to create further tensions for the economic growth in Japanese. Though, Kuroda repeated his pledged to maintain ultra-loose monetary policy while communicating closely with government. On the other hand, the US Dollar retreated yesterday following the Federal Reserve unleashed their downbeat tone toward the economic prospect in United States despite rate hike decision from Fed. As of writing, USD\/JPY depreciated by 0.03% to 134.30.<\/p>\n

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In the commodities market, the crude oil price depreciated by 0.03% to $113.70 per barrel as of writing over the backdrop of bearish inventory data. According to Energy Information Administration (EIA), US Crude Oil Inventories came in at 1.956M, exceeding the market forecast at -1.314M. On the other hand, the gold price surged 0.03% to $1831.00 per troy ounces as of writing amid weakening US Dollar.<\/p>\n

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Today\u2019s Holiday Market Close<\/u><\/p>\n

Time\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Market\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Event <\/strong><\/p>\n

N\/A<\/p>\n

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Today\u2019s Highlight Events<\/u><\/p>\n

Time\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Market\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Event<\/strong><\/p>\n

15:30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CHF\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 SNB Monetary Policy Assessment<\/p>\n

16:30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 CHF\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 SNB Press Conference<\/p>\n

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Today\u2019s Highlight Economic Data<\/u><\/p>\n\n\n\n\n\n\n\n\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
15:30<\/td>\nCHF – SNB Interest Rate Decision (Q2)<\/td>\n-0.75%<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
19:00<\/td>\nGBP – BoE Interest Rate Decision (Jun)<\/td>\n1.00%<\/td>\n1.25%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD – Building Permits (May)<\/td>\n1.823M<\/td>\n1.787M<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD – Initial Jobless Claims<\/td>\n229K<\/td>\n215K<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD – Philadelphia Fed Manufacturing Index (Jun)<\/td>\n2.6<\/td>\n5.3<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/u><\/p>\n

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Technical Analysis<\/u><\/strong><\/p>\n

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower while currently testing the support level. MACD which illustrated increasing bearish momentum suggest the index to extend its losses after breakout.<\/p>\n

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Resistance level: 105.25, 106.20<\/p>\n

Support level: 104.40, 103.55<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H1: <\/strong>GBPUSD was traded lower following prior retracement from the resistance level. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses.<\/p>\n

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Resistance level: 1.2200, 1.2335<\/p>\n

Support level: 1.2065, 1.1970<\/p>\n

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\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following prior retracement from the resistance level. However, MACD which illustrated increasing bullish momentum suggest the pair to be traded higher as technical correction.<\/p>\n

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Resistance level: 1.0485, 1.0600<\/p>\n

Support level: 1.0355, 1.0205<\/p>\n

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\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following prior rebounded from the support level. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains.<\/p>\n

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Resistance level: 135.40, 136.45<\/p>\n

Support level: 133.55, 131.25<\/p>\n

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AUDUSD, <\/strong>H4: <\/strong>AUDUSD was traded higher while currently testing the resistance level. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains after breakout.<\/p>\n

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Resistance level: 0.7015, 0.7125<\/p>\n

Support level: 0.6865, 0.6720<\/p>\n

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NZDUSD, Daily: <\/strong>NZDUSD was traded lower while currently testing the support level. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher as technical correction.<\/p>\n

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Resistance level: 0.6535, 0.6720<\/p>\n

Support level: 0.6225, 0.6070<\/p>\n

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\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher following prior rebounded from the support level. However, MACD which illustrated increasing bearish momentum suggest the pair to be traded lower as technical correction.<\/p>\n

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Resistance level: 1.2975, 1.3050<\/p>\n

Support level: 1.2860, 1.2765<\/p>\n

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\"\"<\/p>\n

USDCHF, H1: <\/strong>USDCHF was traded lower following prior retracement from the resistance level. However, MACD which illustrated diminishing bearish momentum suggest the pair to be trade higher as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.9980, 1.0060<\/p>\n

Support level: 0.9905, 0.9825<\/p>\n

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\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower while currently testing the support level. However, MACD which illustrated diminishing bearish momentum suggest the commodity to be traded higher as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 119.35, 112.60<\/p>\n

Support level: 112.40, 109.25<\/p>\n

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\"\"<\/p>\n

GOLD_, H1: <\/strong>Gold price was traded higher while currently testing the resistance level. However, MACD which illustrated diminishing bullish momentum suggest the commodity to be traded lower as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1833.55, 1847.50<\/p>\n

Support level: 1818.80, 1807.95<\/p>\n","protected":false},"excerpt":{"rendered":"

16 June 2022\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis Yen rebounded following BoJ unleashed their concern over sharp drop in Yen. The Japanese Yen rebounded yesterday following the Japan\u2019s top government claimed that they will \u201crespond appropriately\u201d by manipulating the Yen market if needed, issuing a fresh warning to market. In earlier, the overall trend for the Japanese […]<\/p>\n","protected":false},"author":25,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[13],"tags":[],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/251750"}],"collection":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/users\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=251750"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/251750\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=251750"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=251750"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=251750"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}