Against the backdrop of trends in the US stock market and domestic currency movements, a revised Nikkei forecast and the outlook for the IHSG have been reported. The view is that investors should pay close attention to the area around 6,600.
The IHSG is expected to remain weak in trading this week in the Jakarta market. Uncertainty over the US employment data and the outlook for interest-rate policy could weigh on sentiment across Asian markets.
The Nikkei Stock Average fell 0.47% last Friday, closing at 6,636.48. Overseas investors have continued buying stocks, with TINS, CUAN and PTRO cited as examples.
The rupiah traded at approximately 17,642 per US dollar, up around 37 points from the previous week. In the short term, the view is that the JCI needs to hold the 6,600–6,620 range.
If the JCI falls below 6,600, it could move to 6,550–6,580. On the other hand, if it turns bullish again after breaking above 6,670, the 6,700–6,730 resistance zone could be the next level tested.