FXStreet (Córdoba) - The Japanese benchmark, the Nikkei 225, ended Wednesday down 189 points at 19,301.07, but plunged to fresh 1-month lows in electronic trading, currently pointing to start the day around 18,860. The index fell during the Asian session, as investors were concerned over sliding oil prices, and tracking previous Wall Street's decline. But overall, risk appetite remained subdued ahead of the Federal Reserve meeting next week. The strong upward momentum in the JPY is also weighing in the Nikkei. Nikkei technical perspective “The daily chart shows that the decline has extended below the 100 SMA for the first time since late October, while the technical indicators head sharply lower below their mid-lines, all of which supports further falls for this Thursday”, said Valeria Bednarik, chief analyst at FXStreet. “In the shorter term, the 4 hours chart also supports further falls, given that the technical indicators have barely stalled their declines in extreme oversold territory, but are far from suggesting an upward corrective movement ahead, whilst the index has extended further below its moving averages”. Support levels: 18,857 18,797 18,73. Resistance levels: 18,945 18,996 19,070. For more information, read our latest forex news.