1. Hello Guest Do you know binary.com offers exclusive $20 No Deposit Bonus for FX Binary Point visitors? Click here to sign up

Nikkei 225 bounces off lows, bullish structure intact

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 22, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Joined:
    Oct 7, 2015
    Messages:
    27,524
    Likes Received:
    0
    FXStreet (Bali) - The benchmark Japanese index Nikkei 225 is trading on a soft tone in early trade, and despite coming well off its lows in the initial 10m, still operates over 0.15% lower vs Wednesday's close.

    The lackluster performance in the Nikkei 225 early doors, even if the underlying bullish structure remains intact, follows the negative sentiment exhibited in US equities, where the S&P500 closes down by 0.58% at 2,018.9, with healthcare and biotech the worst performers.

    From a technical perspective, despite the negative open, the index has been able to rebound off a critical resistance-turned-support at 18,435/40 (tested multiple times as noted yday), suggesting that buying interest remains for a potential bullish extension towards recent highs near 18,600/610. A break above this layer of resistance would then expose 18,750.00 ahead of 19,000 round number. On the downside, setbacks below 18,435/40 may see 18,240/50 retested.
    For more information, read our latest forex news.
     

Share This Page