Analysis and Recommendation: (close of Asian session)

USD/JPY  continues to climb hitting a high during Asian trading of 83.57 and settling in at 83.42.The greenback has gained 1.5% on the yen from last Friday - its sixth weekly gain, pushing its year-to-date advance over 10%. Just a few weeks the USD was trading at a post World War 2 low. The greenback fell in late Friday trading against most of its trading partners, as they reached for more risky assets. Except for the Japanese Yen, if the housing and building permit reports from the US come it at or above forecast except to see a climb here over the high of today of 83.57 and possible close to the 83.94 resistance level.

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Asian Markets Economic Releases March 19, 2012 actual v. forecast.     

Date

 

Currency

 

 
 

Event

Actual

 

Forecast

 

Previous

 

 

Mar. 18

 

NZD

 
 
 

Westpac Consumer Sentiment 

102.4

 
 
 

101.3 

 
 

Economic Calendar March 20, 2012 ( reports that affect the Asian Markets )

01:30     AUD      Monetary Policy Meeting Minutes

The Reserve Bank of Australia (RBA) Monetary Policy Meeting Minutes are a detailed record of the bank's most recent policy-setting meeting, containing in-depth insights into the economic conditions that influenced the rate decision.                                                                                       

13:30     USD      Building Permits

Building Permits measures the change in the number of new building permits issued by the government. Building permits are a key indicator of demand in the housing market.                     

13:30     USD      Housing Starts  

Housing starts measures the change in the annualized number of new residential buildings that began construction during the reported month. It is a leading indicator of strength in the housing sector.                                                                                  

22:45     NZD      Current Account

The Current Account index measures the difference in value between exported and imported goods, services and interest payments during the reported month. The goods portion is the same as the monthly Trade Balance figure. Because foreigners must buy the domestic currency to pay for the nation's exports the data can have a sizable affect on the NZD.

Government Bond Auctions (this week)

Mar 21  10:10  Sweden  Nominal bond auction

Mar 21  10:30  Germany  Eur 5.0bn Mar 2014 Schatz

Mar 21  10:30  Portugal  Eur 0.75-1.0bn 4 & 6M T-bills

Mar 22  10:10  Sweden  I/L bond auction

Mar 22  10.30  UK  Auctions 0.625% 2042 I/L Gilt

Mar 22  15:00  US

Announces auctions of 2Y Notes on Mar 27, 5Y Notes on Mar

28 & 7Y Notes on Mar 29

USD/JPY Pivot Points (Time Frame: 1 Day)

 

Name S3 S2 S1 Pivot R1 R2 R3

Classic
83.0880
83.2170
83.3170
83.4460
83.5460
83.6750
83.7750

Fibonacci
83.2170
83.3045
83.3585
83.4460
83.5335
83.5875
83.6750

Camarilla
83.3540
83.3750
83.3960
83.4460
83.4380
83.4590
83.4800

Woodie's
-
83.2097
83.3025
83.4387
83.5315
83.6677
-

DeMark's
-
-
83.6105
83.4783
83.3815
-
-