Asian markets ended mixed today with Nikkei 225 ending lower, ahead of FOMC decision. The Hang Seng trading 0.04 per cent lower at 26,782, the Singapore Straits Times index finished 0.45 per cent lower at 3,168, and the Shanghai composite ended 0,19 per cent higher at 2,984. Aussie stocks trading lower; the ASX 200 is 0.10% lower at 6,688 as Australia House Price Index (QoQ) came in at -0.7%, topping forecasts of -1% in 2Q.
Nikkei 225 finished 0.18% lower at 21,960 as investors await the Fed decision later today.
The Nikkei consolidates around 4-month highs, as the bulls are controlling the trend. On the upside resistance for the Nikkei 225 stands at 22,027 today’s high, a break above, perhaps will set the stage for a move up to 22,180 the high from May 7th. The index has reached overbought levels as the RSI (14) index indicates, so a correction can’t be ruled out. On the downside immediate support stands at 21,942, today’s low and then at 21,222 the 100-day moving average. A break below that level might accelerate the selloff down to 21,118 and the 200-day moving average.