KLSE IForex Recommendations

TRADING TIPS :

USD/JPY hit 120.58 during European afternoon trade, the pair’s highest since December 30; the pair subsequently consolidated at 120.55, gaining 0.66%.The pair was likely to find support at 119.22, the low of December 31 and resistance at 121.86, the high of December 8 and a seven-year high.The U.S. dollar was higher against the yen on Friday, as expectations for a U.S. rate hike this year continued to support the greenback and investors eyed the release of U.S. manufacturing activity data later in the day.The dollar remained broadly supported as a recent string of upbeat U.S. data sparked optimism over the strength of the country’s economic recovery and added to expectations for the Federal Reserve to soon raise interest rates.

INTRADAY OUTLOOK
Support: 120.09
Resistance: 120.83

RECOMMENDATION:
1. Buy USD/JPY Above 120.85-TG: 121.25/120.75 SL 120.35
2. Sell USD/JPY Below 120.05-TG: 119.65/119.15 SL 120.55

INTRADAY OUTLOOK
Immediate Support: 1.9983
Immediate Resistance: 1.2033

RECOMMENDATION:
1. Buy EUR/USD Above -1.2035 TG: 1.2075/1.2125 SL 1.9985
2. Sell EUR/USD Below -1.9980 TG:1.9940/1.9890 SL 1.2030

Oil futures down after hitting fresh multiyear lows

Oil futures slid further downhill in electronic trade early Monday, with a rising dollar helping weigh on the commodity.

Benchmark Nymex crude futures for February CLG5, -1.67%  fell by 93 cents, or 1.8%, to $51.76 a barrel on the Globex platform.

Rival benchmark Brent North Sea crude LCOG5, -1.36%  retreated 87 cents, or 1.5%, to $55.55 a barrel, extending a 0.2% drop on Friday.

Current Market Update

Here are the latest trading levels for Asia's major stock markets:


Tokyo (Nikkei Average) up 0.4% 

 Hong Kong (Hang Seng Index) up 0.5% (at break) 

 Shanghai (Shanghai Composite Index) up 2.4% (at break) 

 Sydney (S&P/ASX 200) flat 

 Seoul (Kospi) down 0.7% 

 Mumbai (Sensex) up 0.2% 

Taipei (Taiex) down 0.7%

Asian Market Update

 Asian markets were mixed on Monday as the first full week of 2015 got under way, while the euro hit a nine-year low against the dollar at one point on growing expectations of fresh European Central Bank stimulus.

Oil extended its losses to sit at five-and-a-half-year lows due to signs of further weakening in the eurozone economy, with both contracts falling towards US$50 a barrel.

Tokyo slipped 0.68 per cent by the break, Hong Kong lost 0.70 per cent, Shanghai gained 0.74 per cent, Sydney added 0.24 per cent and Seoul was 0.91 per cent lower.

The year got off to a tentative start after a broadly positive end to 2014 for most markets.

KLSE Malaysia Opening Market Update

MALAYSIA share prices opened higher on Monday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 5.50 points to 1758.43.

Volume was 21.97 million lots worth RM9.90 million.

Gainers outnumbered losers 78 to 45.