Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro- Nikkei 225 Daily Outlook

Nikkei surged above 38000 on upbeat market sentiment. It hit a high of 38012 at the time of writing and is currently trading around 37886.

 

BOJ kept its rates unchanged at 0.25% as expected. Governor Ueda said that the central bank is willing to hike rates if inflation remains on track.

 

 

The index holds below short-term 34 and above 55 EMA and below the long-term moving average (200- EMA) in the 4-hour chart.

 

The near-term resistance is around 38200, any violation above will take the index to  38695/39000. Overall bullish continuation only above 42550.

 

On the lower side, immediate support stands around 37240, any breach below will drag the index down to 36800/36360/36175/36000/35870.Further bearishness only below 35000.

 

Indicator (4- hour chart)

 

CCI (14)- Bullish

 

CCI (50)- Bullish

 

Average directional movement Index - Bullish

 

It is good to buy on dips around 37570-600 with SL around 37000 for TP of 39000.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.