{"id":273354,"date":"2022-09-23T05:44:18","date_gmt":"2022-09-23T05:44:18","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=273354"},"modified":"2022-09-23T05:44:18","modified_gmt":"2022-09-23T05:44:18","slug":"230922-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/230922-afternoon-session-analysis\/","title":{"rendered":"230922 Afternoon Session Analysis"},"content":{"rendered":"

23 September 2022\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 Afternoon Session Analysis<\/strong><\/p>\n

Yen spiked following Japan intervened the market.<\/strong><\/span><\/p>\n

The USD\/JPY, which widely traded by majority of investors dived significantly on yesterday amid the intervention of Japan government and central bank. According to Reuters, the Japan government and central bank intervened forex market by buying its nation currency, Yen, in order to support the weakening nation currency. Bank of Japan (BoJ) remained its loosening monetary policy has pressured the value of Yen against US Dollar, which led Japan to intervene the market. Besides that, Prime Minister of Japan Fumio Kishida claimed on yesterday that the government would highly eye on the exchange rate of its currency and they might implement intervention again if necessary. As Japanese currency supported by its government, it prompted investors to shift their capitals toward Yen. On the other hand, the USD\/CHF rose on yesterday after the Swiss National Bank (SNB) released its interest rate decision. The SNB hiked its rates by 75 basis point from -0.25% to 0.50%, which meet with the market expectation. As of writing, USD\/JPY eased by 0.23% to 142.02 as well as USD\/CHF edged up by 0.16% to 0.9783.<\/p>\n

 <\/p>\n

In the commodities market, the crude oil price dropped by 0.37% to $83.18 per barrel as of writing over the backdrop of economic recession which driven by rate hike. In addition, the gold price depreciated by 0.11% to $1671.02 per troy ounce as of writing following the US Dollar strengthened.<\/p>\n

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 <\/p>\n

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

All Day\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 JPY\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\u00a0 Public Holiday<\/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

N\/A<\/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>\nEUR – German Manufacturing PMI (Sep)<\/td>\n49.4<\/td>\n48.3<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP – Composite PMI<\/td>\n49.6<\/td>\n49.0<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP – Manufacturing PMI<\/td>\n47.3<\/td>\n47.5<\/td>\n–<\/td>\n<\/tr>\n
16:30<\/td>\nGBP \u2013 Services PMI<\/td>\n50.9<\/td>\n50.0<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nCAD – Core Retail Sales (MoM) (Jul)<\/td>\n0.8%<\/td>\n-1.2%<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher following prior rebound from the support level. However, MACD which illustrated decreasing bullish momentum suggest the index to be traded lower as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 111.30, 112.35<\/p>\n

Support level: 110.35, 109.40<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following prior breakout below the previous support level. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses.<\/p>\n

 <\/p>\n

Resistance level: 1.1275, 1.1365<\/p>\n

Support level: 1.1180, 1.1085<\/p>\n

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\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower while currently testing the support level. However, MACD which illustrated decreasing bearish momentum suggest the pair to be traded higher as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.9880, 0.9965<\/p>\n

Support level: 0.9810, 0.9730<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded lower following prior breakout below the previous support level. MACD which illustrated increasing bearish momentum suggest the pair to extend its losses.<\/p>\n

 <\/p>\n

Resistance level: 142.35, 144.05<\/p>\n

Support level: 140.70, 138.80<\/p>\n

 <\/p>\n

\"\"<\/p>\n

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

 <\/p>\n

Resistance level: 0.6650, 0.6720<\/p>\n

Support level: 0.6555, 0.6470<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower following prior breakout below the support level. MACD which illustrated decreasing bullish momentum suggest the pair to extend its losses.<\/p>\n

 <\/p>\n

Resistance level: 0.5850, 0.5925<\/p>\n

Support level: 0.5770, 0.5680<\/p>\n

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\"\"<\/p>\n

USDCAD, Daily: <\/strong>USDCAD was traded higher following prior breakout above the previous resistance level. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains.<\/p>\n

 <\/p>\n

Resistance level: 1.3635, 1.3820<\/p>\n

Support level: 1.3455, 1.3320<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following prior breakout above the previous resistance level. However, MACD which illustrated decreasing bullish momentum suggest the pair to be traded lower as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 0.9900, 1.0020<\/p>\n

Support level: 0.9785, 0.9715<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H1: <\/strong>Crude oil price was traded lower while currently testing the support level. MACD which illustrated increasing bearish momentum suggest the commodity to extend its losses if successfully breakout the support level.<\/p>\n

 <\/p>\n

Resistance level: 84.20, 85.85<\/p>\n

Support level: 82.75, 81.20<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior breakout above the previous resistance level. However, MACD which illustrated decreasing bullish momentum suggest the commodity to be traded lower as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1678.65, 1694.20<\/p>\n

Support level: 1661.60, 1641.55<\/p>\n","protected":false},"excerpt":{"rendered":"

23 September 2022\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 Afternoon Session Analysis Yen spiked following Japan intervened the market. The USD\/JPY, which widely traded by majority of investors dived significantly on yesterday amid the intervention of Japan government and central bank. According to Reuters, the Japan government and central bank intervened forex market by buying its nation currency, Yen, in order […]<\/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\/273354"}],"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=273354"}],"version-history":[{"count":1,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/273354\/revisions"}],"predecessor-version":[{"id":273462,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/273354\/revisions\/273462"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=273354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=273354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=273354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}