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USD/JPY, NATURAL GAS and US30

By Research Team Friday, Jun 17, 2022
USD/JPY

    • 10.25amD1
    • High134.639
    • Low132.174
    • Close134.062

USD/JPY is trading at 133.838, 0.08% down since previous day close. The gains seems in currencies on Thursday seems to be fading away as traders & investors fear over global recession as major Central Banks started raising their interest rates. Today, the Bank of Japan (BoJ) left its interest rate at -0.10% as expected & maintained its stimulus package size as well. On data front, the Japan’s Trade Balance deficit grew to 1.93T from 1.58T in the previous month. The rising bond yields & strong USD widely weakened the YEN since last month. As seen in the chart, the pair seems to be taking a support of MA (10) & MA (20) which signals for the cautious trading on daily basis.

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Daily Outlook

USD/JPY

Intra Day
Near Day

Technical Levels

R3 139.23200
R2 136.04700
R1 134.23200
Turnaround 132.86200
S1 131.04700
S2 129.67700
S3 126.49200
By Research Team Friday, Jun 17, 2022
NATURAL GAS

    • 11.05amD1
    • High7.413
    • Low7.328
    • Close7.373

Natural Gas is trading at $7.376, 0.08% down since previous day close. The selling pressure can be seen in Natural Gas prices amid global cues & rising supplies against the steady demand side. The FOMC raised interest rate by 75bps higher than expectation to curtail inflation rate which boosted the market sentiments & weakened the energy products. The recent Energy Information Administration (EIA) report showed a rise in Natural gas inventory level by 92B as expected which suppresses the prices. As seen in the chart, the Natural Gas slid down to previous lows of $7.300 levels which act as major support level & hence, a breakdown if breached or reversal if sustained can be seen on short term basis.

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Daily Outlook

NATURAL GAS

Intra Day
Near Day

Technical Levels

R3 8.98500
R2 8.28100
R1 7.87300
Turnaround 7.57700
S1 7.13900
S2 6.87300
S3 6.16900
By Research Team Friday, Jun 17, 2022
US30

    • 10.42amW1
    • High30126
    • Low29897
    • Close30073

US30 is trading at 30100, 0.06% up since previous day close. The global shares slightly recovered on Friday after plunging down heavily in the previous sessions amid global recession fears. The US30 showed mixed momentum post Fed meeting; wherein an interest rate was hiked by 75bps to lower down inflation concern & that the more hikes of 75 bps may turn out to be ultimate solution to the problem. Also, the U.S issued poor Jobless Claims data which further dragged down the US30 on Thursday. Last week, the U.S showed a rise in CPI rate by 1.0% higher than expectation which intensifies inflationary problem across the globe. As seen in the weekly chart, the index is trading near major support of Fibo level 61.8 which indicates make or break situation for the day.

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Daily Outlook

US30

Intra Day
Near Day

Technical Levels

R3 32622.00000
R2 31416.00000
R1 30692.00000
Turnaround 30210.00000
S1 29486.00000
S2 29004.00000
S3 27798.00000
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