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Nikkei 225 at Fresh Yearly Highs

Nikkei 225
Nikkei 225

Asian indices ended mostly higher as the improved sentiment on a Brexit deal offset the confusing headlines over trade negotiations between officials from China and the USA. The Hang Seng index finished 0.51% higher at 26,640, the Shanghai Composite ended 0.50% lower at 2,976, while the Singapore Straits Times is 0.85% higher at 3,142. Aussie stocks also finished higher; the ASX 200 ended 1.27% higher at 6,736.

Nikkei 225 finished 1.20% higher at 22,472 making fresh yearly highs after encouraging earnings from USA. Nikkei boosted by Taiheiyo Cement Corp. +4.85%, AGC Inc. +4.06%, Fast Retailing Co. Ltd. +3.90, and Astellas Pharma Inc. +3.45%.

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Nikkei Support and Resistance

The Nikkei index jumped to fresh YTD highs, as the full bullish momentum is intact and the index holds above all major daily moving averages. On the upside resistance for the Nikkei 225 stands at 22,615 today’s high, a break above, will set the stage for a move up to 22,700 the high from December 3, 2018. On the downside, immediate support stands at 22,434, today’s low and then at 21,257 the 100-day moving average.

In Asian forex markets USDJPY trading 0.15% lower at 108.68 the Aussie dollar trades 0.21% lower at 0.6738, while NZDUSD trades 0.14% lower at 0.6285 versus USD. Gold trades lower today at 1,482, while WTI crude oil is 0.44 higher at $53.04 per barrel.

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