Asia Closing: USD weakness seen.



USD/JPY finally showing first sign of weakness this week as price broke below the rising trendline. Bears tested yesterday’s during early Asian Session but currently price is nicely supported by today’s L3.



Aussie rally stalled around small consolidation area found on 2nd Oct. Price tried to push up against Yesterday’s High of 1.027 but failed to sustain it. Currently trading below H3 seeking L3 which is also around consolidation zone found on 3rd and 4th Oct.



The most bullish amongst Asian Currencies? One uptrend does not a small rally make; this new development does not change the overall bearish outlook, at least not yet. Nonetheless it is heartening for bulls to maintain above Yesterday’s High and today’s H3.

Hang Seng Index Futures M15


Still going strong, with an early test below yesterday’s high and upward trendline (drawn previously) failing during early Asian Session. Since then, bulls didn’t look back and we end up closing the week just a few points shy of the weekly high. Incidentally, both Futures and actual underlying index crossed and closed above the 21,000 mark.

Nikkei 225 Futures H1


Certainly not sharing the bullishness of its Hong Kong counterpart. Prices appear to be locked in a new trading range between 8,650 and 8,935. A break below L3 could bring price back to the consolidation area we are so familiar with early this week.


Another mixed day for Asian equities/currencies. Some USD weakness is seen early session (see OANDA USD Basket) but the decrease in USD strength does not seem to stem from an increase in risk appetite (USD being a safe haven currency).

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