{"id":329793,"date":"2023-06-19T06:06:06","date_gmt":"2023-06-19T06:06:06","guid":{"rendered":"https:\/\/www.gcmasia.co\/analysis\/en\/?p=329793"},"modified":"2023-06-19T06:06:06","modified_gmt":"2023-06-19T06:06:06","slug":"190623-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/190623-afternoon-session-analysis\/","title":{"rendered":"190623 Afternoon Session Analysis"},"content":{"rendered":"

19 June 2023\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

 <\/p>\n

Japanese Yen slipped as BoJ\u2019s move was widely expected.<\/strong><\/span><\/p>\n

The Japanese Yen against the US dollar slipped after the Bank of Japan (BoJ) maintained its policy rate at -0.1%, especially intervention in Yield Curve Control (YCC) to support economic growth and achieve a long-term 2% inflation target. Investors widely expected the BOJ’s ultra-loose rate decision as Governor Kazuo Ueda said last month that the central bank is “patiently” maintaining its current policy. As stubbornly low inflation in Japan forced the BoJ to hold YCC longer than expected and ultra loosen monetary policy to achieve a sustainable inflation rate of 2%. However, core inflation was recorded at 3.4% in April, well above the central bank’s 2% target, suggesting that the BOJ will adjust to the YCC sooner or later. In addition, the BoJ Governor also mentioned that inflation is expected to slow below the 2% target in the middle of the current fiscal year and rebound afterwards. As of writing, the pair of USD\/JPY traded down by -0.03% to 142.70.<\/p>\n

 <\/p>\n

In the commodity market, the crude oil price depreciated by -1.40% as the market was waiting for more rate cuts on China loans. Besides, the gold price slipped by -0.21% to 1954.12 as investors awaited more cues from Fed monetary policy testimonial.<\/p>\n

 <\/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 USD\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Juneteenth<\/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

N\/A<\/p>\n

 <\/p>\n

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

N\/A<\/p>\n

 <\/p>\n

Technical Analysis\u00a0 <\/u><\/strong><\/p>\n

\"\"<\/p>\n

DOLLAR_INDX, H4: <\/strong>Dollar index was traded higher following the prior breakout above the previous resistance level at 101.85. MACD which illustrated increasing bullish momentum suggests the index to extend its gains toward the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 102.35, 102.90<\/p>\n

Support level: 101.85, 101.35<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded lower following the prior breakout below the previous support level at 1.2815. MACD which illustrated diminishing bullish momentum suggests the pair to extend its losses toward the support level.<\/p>\n

 <\/p>\n

Resistance level: 1.2815, 1.2990<\/p>\n

Support level: 1.2665, 1.2565<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded lower following the prior retracement from the higher level. MACD which illustrated diminishing bullish momentum suggests the pair to extend its losses toward the support level at 1.0915.<\/p>\n

 <\/p>\n

Resistance level: 1.0990, 1.1075<\/p>\n

Support level: 1.0915, 1.0840<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, H4: <\/strong>USDJPY was traded higher following the prior rebound from the support level at 141.40. However, MACD which illustrated diminishing bullish momentum suggests the pair undergoes a technical correction in the short term.<\/p>\n

 <\/p>\n

Resistance level: 142.90, 144.10<\/p>\n

Support level: 141.40, 140.20<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, H4: <\/strong>AUDUSD was traded lower following the prior breakout below the previous support level at 0.6840. MACD which illustrated increasing bullish momentum suggests the pair to extend its losses toward the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.6840, 0.6910<\/p>\n

Support level: 0.6770, 0.6700<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, H4: <\/strong>NZDUSD was traded lower following the prior breakout below the previous support level at 0.6215. MACD which illustrated increasing bearish momentum suggests the pair to extend its losses toward the support level.<\/p>\n

 <\/p>\n

Resistance level: 0.6215, 0.6310<\/p>\n

Support level: 0.6105, 0.5995<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded higher following the prior rebound from the lower level. MACD which illustrated diminishing bearish momentum suggests the pair to extend its gains toward the resistance level at 1.3240.<\/p>\n

 <\/p>\n

Resistance level: 1.3240, 1.3335<\/p>\n

Support level: 1.3140, 1.3040<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, H4: <\/strong>USDCHF was traded higher following the prior rebound from the lower level. MACD which illustrated increasing bullish momentum suggests the pair to extend its gains toward the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 0.8985, 0.9040<\/p>\n

Support level: 0.8940, 0.8870<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower following the prior breakout below from the previous support level at 71.35. MACD which illustrated diminishing bullish momentum suggests the commodity to extend its losses toward the support level.<\/p>\n

 <\/p>\n

Resistance level: 71.35, 73.15<\/p>\n

Support level: 69.30, 67.55<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded lower following the prior breakout below the previous support level at 1955.50. \u00a0MACD which illustrated diminishing bullish momentum suggests the commodity to extend its losses toward the support level.<\/p>\n

 <\/p>\n

Resistance level: 1955.50, 1982.50<\/p>\n

Support level: 1931.45, 1901.70<\/p>\n

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

19 June 2023\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   Japanese Yen slipped as BoJ\u2019s move was widely expected. The Japanese Yen against the US dollar slipped after the Bank of Japan (BoJ) maintained its policy rate at -0.1%, especially intervention in Yield Curve Control (YCC) to support economic growth and achieve a long-term 2% inflation target. Investors […]<\/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\/329793"}],"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=329793"}],"version-history":[{"count":1,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/329793\/revisions"}],"predecessor-version":[{"id":329831,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/329793\/revisions\/329831"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=329793"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=329793"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=329793"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}