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Nikkei 225 Stalls at 200 Day MA

Nikkei 225 Stalls at 200 Day MA
Nikkei 225 Stalls at 200 Day MA

Asian markets trading higher helped by improved sentiment after US and China will return to trade talks. The Hang Seng trading 0.42 per cent lower at 26,412, the Singapore Straits Times index finished 0.48 per cent higher at 3,145, and the Shanghai composite ended 0,96 per cent higher at 2,985. Aussie stocks finished higher; the ASX ended 0.90% higher at 6,573.

Nikkei 225 outperformed today finishing  2.12% higher at 21,085 getting a boost from Toho +8.48%, Kawasaki +6.90%, Japan Steel +6.67%, Pacific Metals +5.58%, Omron +5.16%, and Hitachi +5.06%. On the other hand Sony -1.46%, Tokyo Dome -8.40%,  CyberAgent -3.88%, and Comsys -1.56%.

The Nikkei tested today the 200-day moving average but closed below at 21,085 registering gains for third consecutive trading session. On the downside immediate support stands at 20787, today’s low and then at 20,554 yesterday’s low. A break below that level might accelerate the selloff down to 20,000 mark. On the upside resistance for the Nikkei 225 stands at 21,164 today’s high, a break above may carry more bullish implications, perhaps setting the stage for a move up to 21,231 the 50 day moving average.

In Asian forex markets USDJPY trading 0.12% higher at 106.48, the Aussie dollar trades 0,27% higher at 0.6815, while Kiwi trades 0.36% higher at 0.6382 versus USD. Gold trades higher to 1,546, while crude oil is 0.48% lower at $55.99 per barrel.Don’t miss a beat! Follow us on Telegram and Twitter.

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