Forex Market Analysis

DAILY ABSTRACT – 16th February 2018

Hot Topics:

  • JPY – USDJPY decorrelated with Nikkei Index.
  • DOW – Dow Jones again exceeds 25,000 pts.
  • STOCKS – Netflix incorporates Ryan Murphy into their team.




JPY – USD-JPY decorrelated with Nikkei Index.

The Yen <JPY> had the best performance against the Greenback <USD> in the day, advancing 0.78%, while the USD Dollar Index has fallen 0.47%. However, this week the Nikkei 225 <JPN225> has developed a lateralisation structure while most indices advanced, recovering losses last week. On the other hand, the USDJPY has continued to fall for the fourth consecutive session.

Our view of this divergence in the correlation between the Nikkei Index and the USDJPY is that it should be eliminated again by converging the correlation between both instruments in favour of the trend that indexes are presenting at a general level.




DOW – Dow Jones again exceeds 25,000 pts.

The industrial index Dow Jones 30 <US30> has escalated and exceeded the psychological level of 25,000 pts, climbing to 25,258 pts (1.50%) in its fifth session of gains. The Nasdaq 100 <NAS100> technological index, meanwhile, has exceeded last week’s losses, advancing over 2 percent on the session.

In the technical scenario, we continue to see a bullish continuation, the levels to be controlled as resistance are 25,539.9 and 26,138.7 pts.




STOCKS – Netflix incorporates Ryan Murphy into their team.

The online broadcast company announced on Tuesday night that it will incorporate producer Ryan Murphy to produce new series and original Netflix films. The agreement with the producer who currently works with 20th Century Fox has a cost $300 million, according to two people who know about the agreement. According to Ted Sarandos, the Netflix head of content, “Murphy has influenced the world’s cultural spirit, has reinvented genres and changed the course of television history.”

In the technical side, Netflix <NFLX> climbed 4.62%, bringing it close to historical highs, Goldman Sachs <GS> on January 23 updated its buy recommendation with a target of $250 to $315. If NFLX breaks above the resistance level of $286.81, the next resistance level is $300 as a psychological level. If it does not fall and consolidate below $236, we only consider bullish positions.


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