- summary:
- Nikkei 225 fights less than the main resistance as investors are waiting for global profits and sermon. Can the stock market rally continue in Japan?
The Nikkei 225 index hovered near the Flatline line in Thursday’s session, holding a little resistance area 34350, where investors remained hesitant to chase the recovery. After sharply wore it from its lowest level in the past week, the Japan index is now lost Steam, where traders are preparing to the potential negative side.
So far, recovery was lacking in a strong conviction. A strong dollar continues and increases the revenues of American bonds to affect global stocks negatively, as uncertainty about technology profits and fluctuations in the yen maintains a cautious atmosphere in Tokyo.
Nikkei 225 scheme – main technical levels
- The resistance was crowned at 34346.4 – the price stopped here on Thursday
- The next bullish trigger lies in 351111.8 – previous support turned into resistance
- The highest roof at 36219.0 – the main march axis area
- Immediate support in 33,974.6 – under pressure this week
- The collapse area at 31,969.6, with 30353.7 As a decrease in the last swing
Expectations: Nikki faces confidence test
With the absence of major stimuli from the Tokyo team today, merchants take signals from the international total addresses. The profits coming from Japanese technology and exporters may determine whether the index can push the previous resistance – or return to the last levels.
Unless the bulls retrieve a 35000+ area with a size, the index remains vulnerable to the risk appetite. Currently, Thursday’s session shows frequency instead of conviction.
