 Hi, good morning, and welcome to these products we focus the most global markets are off a little bit today on the back of the shock Japanese market recession that got called today. Obviously GDP figures came out And from a very technical standpoint, they are sliding into or they have slid back into recession That's cause some decent moves in the yen and the Nikkei and we have seen a little bit of a sell-off in most global markets So the doubt is down today It doesn't look like it's gonna be Too aggressive first thing this morning the Nikkei was down to about 3% at one point this morning But since recovered ever so slightly, but you can see that we've got a Buries in Gulf in pattern having appeared in the US 30 And it moves down so I might be cat by potential support at 17 for 33 But nevertheless, we have started this week on the back foot. So looking at the UK one hundred Even though it has obviously gap down lower We are shooting a green candle So it's already off the session lows ever ever so slightly though if we do get a bit more of a sell-off We are quite close to 55 period SMA and the next potential sport is at 65 81 Technic indicators are overbought. You obviously got the slowest to cast it there It's firmly into overbought territory. The RSI still got room for maneuver So actually I wouldn't expect it to be like a perfect storm right now If there'd be a staunch sell-off, but certainly there's a little bit of pressure this morning But nothing too aggressive So looking at Japan to the five obviously you can see where I had where I had gone and where it's gonna go right now So what this means for Japan to the five is? they're likely to call snap elections sooner rather than later and they're also unlikely to increase the the tax and The sales tax in Japan to the to the 10% to help percent levels at the top talked about before They've gone from five to eight and they've been sent around for eight for a little while But it doesn't look like they could be having that that other rise anytime soon So short-term pain obviously Recession calls on Japan to do five is not so good, but medium term It also means that the the government are going to be more stimulus and you know how much Japanese government love to do stimulus The elections could be good to help change monetary policy over in that part of the world So I wouldn't expect her to be further moves back down towards potential support at 16 3 96 right away We were already at a multi-year high anyway So Nick I had had a particularly good run So that is we are off the lows today, and we're just kind of starting the European sessions So I would be that surprised if it if it didn't move up that little bit higher later on in today's session So looking at the dollar yen You can quite clearly see there that we've had an incredibly volatile session when the GDP figures first came out They don't and went all the way up to 117 But because there's been so much volatility around people selling Japanese Yen based stocks because obviously a lot of foreign investors have been piling into the Japanese stock market And they use the yen as a hedge so they sell the yen to hedge their their positions to serve for investor You don't want to have your exposure in yen when the yen has been depreciating So a lot people getting out of Japanese equities today, which has caused this massive volatility in dollar yen People began to unwind the dollar yen hedges But nevertheless potential support still remains at 114 spots 74 But there's a volatility we're seeing there today is testament to the fact that It's unlikely to continue to fall and such a such a hard manner as people begin to buy back into the Japan 225 of the European sessions begin to consolidate after that little money sell-off So looking at Crudel West Texas stand again We had a bit of a bounce back ever on Friday there for we actually hit 73 dollars, which is quite incredible We got to break below 75 dollars, which was the low of we're talking about multi-year lows You've actually got to go into the weekly charts to see that in a bit more detail We are on at 75 spot 10 pretty much right now. We're not bouncing off it So I wouldn't be that surprised on the end of the charts. It's slowly just creeping down there as well I wouldn't be that surprised if we're trading below 75 dollars By the time we get to this at the end of the session there today The longer term potential support still remains at 70 spot 41 But that's very aggressive level for West Texas crude and you know the week of crude price is obviously hurt in Russia The Saudi Ravens are still Dominating the the crude market and they're willing to accept these lower prices to get a much bigger market share And it's it's very interesting to see the geopolitical aspects of this play out Obviously people dressing up as in it's all about global global future demand and that Jeff new GDP figures today Aren't really doing much to to help support crude oil in the short term either It was also worth noting that as crew all begins to keep on getting lower and lower There are certain aspects and especially in regards to exploration and production on the parts of the world that it doesn't make it profitable to go for some of those oil Oil areas when credit is trading at such a low level So does have a bit of a knock on the effect in some certain areas though obviously does help most other global markets because West Texas Seen to be a kind of a bit of a tax on global markets obviously lower tax is better to spur on demand So goal had a big a big increase there on Friday We are on the right side of 1180 which is now acting as was resistance now expected to act as potential support We bounced off that 21 period SMA. I'm still not really that excited by goal Like the pressure is still there the US dollar is still game momentum Long term if you have a look at your dollar right there Got up at the doji formation appearing like here It's failed to break to the 21 period SMA look at one spot 2498 as a potential support Can be honest your dollar is not that exciting today either specifically because of that potential support level Okay, GBP USD however is a little bit better considering that we broke down below potential support one spot 5742 now Expected to act as potential resistance, which it looks like it is exactly done today We've had a retracement and a move back down to the downside So that potentially means if that is a true retracement and we still begin to show some downwards momentum One spot 5424 is the next potential support on GBP USD This is probably one of the more exciting FX pairs to have a look at just now Especially if you've got that that longer term US dollar strength view in mind This could be a good to look at especially when you consider how over extended dollar yen is and the uncertainty over That So finish up a comment data wise and we have to actually look at Monday would be a good start Not much today fast forward on to tomorrow loads of UK stuff So that'd be good if you're looking at a GBP USD trade. So you've got a CPI and PPI Then we do also have US PPI as well. And if you go into Wednesday there, okay, not not so much So Tuesday seems to be the big day in regards to fundamentals Keep your eye on the chart form as ever and make insights popular going forward and join me again tomorrow to find out what happened next