17/06/2013 (Borneo Post) - The US job market continues to improve with reducing jobless claims falling in continual streak. The Japanese yen rose sharply against the dollar after the Bank of Japan (BoJ) held on to monetary policy unchanged.

Market investors expect more stimulus will be added in the execution of ‘Abeconomics’ by Prime Minister Shinzo Abe in order to sustain further recovery.

Unfortunately, US dollar/Japanese yen prices have dropped five yen value from around 99 to 94 regions that caused the Nikkei 225 Stock Average Index to plunge almost 1,200 points throughout the week.

Gold prices reached only 1,365 regions as intra-week low and closed at 1,390 regions on Friday. The market recoiled up after International Monetary Fund (IMF) commented a possible stimulus exit by US Federal Reserve be year end.

This week, we reckoned the market is neutral but may be subjected to either direction based on fundamental factors.

Breaking above 1,400 resistances may re-test the1,425 high regions while driving below 1,375 supports again will initiate new bears to 1,340 as our targets.

WTI Crude prices escalated on Friday after the unexpected dip in USDX trend.

The market closed at 97.87 but still capped below 98.00 resistances.

This week, it is a challenge for the crude prices because piercing above 98 resistances may go for the 100.50 targets.

However, a reversal in USDX trend upwards will effectively bring the crude trend down back to 94 levels.

Stay observant for fundamental news as the market is very volatile due to the demands from emerging markets and geo-political unrest in Middle East areas.

Crude Palm Oil Futures (FCPO) on Bursa Derivatives closed higher on last Friday as traders booked profits from short trades.

The August contract closed at 2,438 with approximately 29,000 contracts.

This week, we remain bullish outlook for the market and target at 2,520 regions. Breaking below 2,400 will probably land on 2,350 levels.