{"id":310979,"date":"2023-03-20T07:07:53","date_gmt":"2023-03-20T07:07:53","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=310979"},"modified":"2023-03-20T07:07:53","modified_gmt":"2023-03-20T07:07:53","slug":"200323-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/200323-afternoon-session-analysis\/","title":{"rendered":"200323 Afternoon Session Analysis"},"content":{"rendered":"

20 March 2023\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

 <\/p>\n

Japanese Yen nudge higher as resilient in economy<\/strong><\/span><\/p>\n

The Japanese Yen, one of the most traded currencies remains upward in its position after Japan\u2019s economy has been resilient on the whole. According to the Bank of Japan (BoJ) monetary policy meeting statement, Firms in Japan have been optimistic about making business fixed investments and private consumption has been on a recovery trend. The fact that outlook for the long-term domestic economic growth rate has risen. Besides, investors flocked to the yen as a haven currency due to bank jitters recently. Most recently, Credit Suisse was one of the 30 banks worldwide collapsed after the main shareholder would not invest more money in the bank sparking market panic. This is the third bank, the two largest banks in the United States to fail, so the panic in the banking industry stimulated demand for the yen. However, the gains of the Japanese Yen were offset by ultra-loose monetary policy. Japanese government eyes effort worth two trillion Yen to defend the economy from slipping into a deflation zone. JPY gains are limited due to the current monetary easing. As of writing, the USD\/JPY gained 0.01% to $131.80.<\/p>\n

\n

In the commodities market, crude oil prices traded down by -1.79% to $65.75 per barrel investors sold heavily on that the economy slows down. Besides, gold prices appreciated by 0.85% to $1990.25 per troy ounce after weakening in US dollar as market gauge Fed liquidity measures.<\/p>\n

\u00a0<\/u><\/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

N\/A<\/p>\n

 <\/p>\n

 <\/p>\n

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

22:00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 EUR\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 ECB President Lagarde Speaks<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\n

N\/A<\/p>\n

 <\/p>\n

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

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower following retracement from the higher level. MACD which illustrated increasing bearish bias momentum suggests the index to extend its losses toward the support level at 103.00.<\/p>\n

 <\/p>\n

Resistance level: 104.45, 105.85<\/p>\n

Support level: 103.00, 101.70<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following a retracement from the higher level. However, MACD which illustrated bullish momentum suggests the pair to traded higher as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 1.2300, 1.2445<\/p>\n

Support level: 1.2145, 1.2010<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following the prior retracement from the higher level. However, MACD which illustrated increasing bullish bias momentum suggests the pair to undergo technical correction in short term.<\/p>\n

 <\/p>\n

Resistance level: 1.0790, 1.0930<\/p>\n

Support level: 1.0635, 1.0505<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded lower following the prior retracement from the resistance level at 132.30. However, MACD which illustrated decreasing bearish momentum suggests the pair to traded higher as technical correction.<\/p>\n

 <\/p>\n

Resistance level: 132.30, 134.55<\/p>\n

Support level: 130.25, 128.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower following the prior retracement from the higher level. However, MACD which illustrated bullish momentum suggests the pair to undergo technical correction in short term.<\/p>\n

 <\/p>\n

Resistance level: 0.6775, 0.6870<\/p>\n

Support level: 0.6685, 0.6600<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower while currently testing the support level at 0.6265. MACD which illustrated decreasing bullish momentum suggests the pair to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.6325, 0.6400<\/p>\n

Support level: 0.6265, 0.6195<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower while currently testing for the support level. MACD which illustrated bearish momentum suggests the pair to extend its losses if successfully break below the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.3785, 1.3880<\/p>\n

Support level: 1.3685, 1.3600<\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded lower following the prior retracement from the higher level. However, MACD which illustrated bearish momentum suggests the pair to extend its losses toward the support level at 0.9180.<\/p>\n

 <\/p>\n

Resistance level: 0.9285, 0.9390<\/p>\n

Support level: 0.9180, 0.9090<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded higher following a prior rebound from the support level at 66.05. MACD which illustrated increasing bullish momentum suggests the commodity to extend its gains toward the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 68.30, 70.65<\/p>\n

Support level: 66.05, 63.70<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following retracement from the resistance level at 1985.50. MACD which illustrated decreasing bullish momentum suggests the commodity to extend losses toward the support level at 1954.90.<\/p>\n

 <\/p>\n

Resistance level: 1985.50, 2009.10<\/p>\n

Support level: 1954.90, 1926.70<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

20 March 2023\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Japanese Yen nudge higher as resilient in economy The Japanese Yen, one of the most traded currencies remains upward in its position after Japan\u2019s economy has been resilient on the whole. According to the Bank of Japan (BoJ) monetary policy meeting statement, Firms in Japan have been optimistic […]<\/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\/310979"}],"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=310979"}],"version-history":[{"count":1,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/310979\/revisions"}],"predecessor-version":[{"id":311031,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/310979\/revisions\/311031"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=310979"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=310979"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=310979"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}