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Nikkei ended 2015 with a 9% gain

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 30, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - The Nikkei 225 managed to advance again on Wednesday, ending the day a 19,033.71, up by 51 points. The index retreated somewhat in after-hours trading, as European markets closed in the red, erasing half of this week gains.

    Japanese markets will be closed now until next week, which means that the index has managed to gain over 9% in this 2015, helped by a generally weaker yen as the Bank of Japan continue with its facilities programs.

    Nikkei technical perspective


    “Technically speaking, the daily chart shows that the index retreated from a strongly bearish 20 SMA, while the technical indicators hover below their mid-lines, still unable to confirm a more sustainable rally in term”, said Valeria Bednarik, chief analyst at FXStreet. “In the 4 hours chart, the index is a few points above a horizontal 20 SMA, while the technical indicators present a neutral-to-bearish stance, heading slightly lower around their mid-lines”.

    Support levels: 18,952 18,882 18,831. Resistance levels: 19,062 19,106 19,174.
    For more information, read our latest forex news.
     

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