Nasdaq 100 Surges As USD/JPY, Brent Crude Slip

(MENAFN- DailyFX (IG)) ​​​Macro update Asia equities rebound on de-escalation hopes:

Regional markets rallied strongly as optimism grew that the Iran conflict could ease within weeks, with MSCI Asia ex-Japan up 2.7% and ending a four-day losing streak.

Korea and Japan lead gains:

The Kospi jumped as much as 5.5% and the Nikkei rose up to 3.9%, supported by stronger-than-expected Korean export data and improved Japanese business sentiment.

Wall Street posts strongest session since May 2025:

The S&P 500 climbed 2.9% and the Nasdaq surged 3.8% as investors priced in a potential path to de-escalation, led by gains in technology stocks.

​Oil remains elevated despite easing hopes:

Brent crude rose close to $109 a barrel, with supply risks persisting due to infrastructure damage and disruption to flows through the Strait of Hormuz, before slipping below $100 on hopes of de-escalation.

Rate expectations shift towards easing:

Fed funds futures moved to price a 32% chance of a July rate cut, up from 7.5% the previous day, while the 10-year Treasury yield edged lower to around 4.30%..

Gold steady as uncertainty lingers:

Bullion held near two-week highs after a volatile March, with investors cautious over whether de-escalation will materialise and how it may impact inflation and monetary policy.

​Nasdaq 100 rallied 3.8%

​The Nasdaq 100 has seen its strongest daily rally since May 2025 on Tuesday with the accelerated mid-March-to-April downtrend line and 24 March low at 23,928 being in focus in case of momentum being sustained.

​If overcome, the 25-to-26 March gap at 24,029-to-24,081 may get filled and the 24,289-to-24,337 resistance area be revisited.

​Minor support may be spotted between the late July and August 2025 highs at 23,589-to-23,264 ahead of the 31 March 23,199 low.

​Short-term outlook:

Bullish while above the 30 March low at 22,842

​Medium-term outlook:

Bearish (with a short-term bullish bias) while below the 17 March high at 24,884

NASDAQ daily candlestick chart Source: TradingView Source: TradingView ​USD/JPY slips through uptrend line

USD/JPY ​ is seen coming off its ¥160.46 March peak - a level last seen in July 2024 - and in doing so slid through the February-to-March uptrend line at ¥159.46, so far to ¥158.28. While it holds, a minor bounce towards the ¥159.50-to-¥159.90 region may unfold.

​A slip through ¥158.28 would likely put the ¥157.97-to-¥157.72 region on the map. While the next lower ¥157.51 mid-March low holds, the medium-term uptrend is deemed to be intact.

​Short-term outlook:

Bearish while below the 31 March ¥159.97 high.

​Medium-term outlook:

Bullish while above the 19 March low at ¥157.51

​USD/JPY daily candlestick chart Source: TradingView Source: TradingView ​Brent weighs on uptrend line

​The price of Brent crude oil briefly slipped through its February-to-April downtrend line at $99.94 to Wednesday's $97.08 low before rising back above the psychological $100 per barrel level.

​While Wednesday's intraday low at $97.08 holds, the $105 region may be revisited whereas a fall through this level may push the 23 March low at $92.62 to the fore.

​Short-term outlook:

Bearish while below the 1 April $104.33 high

​Medium-term outlook:

Bullish while above the 23 March $92.62 low

​Brent daily candlestick chart Source: TradingView Source: TradingView Important to know

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

MENAFN01042026000076011015ID1110928883