We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Bullish
USD/JPY
Mixed
Gold
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Bearish
Bitcoin
Mixed
More View more
Real Time News
  • Chair of House Committee on Ways and Means Neal: - Differences on USMCA are pretty small - Democrats no worried about handing Trump a victory #trade $DXY $MXN $CAD
  • RT @JohnRentoul: New Kantar poll, 14-18 Nov: 18-pt Tory lead Con 45% +8 Labour 27% ±0 Lib Dem 16% -1 Green 3% ±0 Brexit Party 2% -7 (Chan…
  • Commodities Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Silver: 0.23% Gold: -0.07% Oil - US Crude: -1.75% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/PBjEYZBPo7
  • Crude #oil is down below $56 today to retest November lows https://t.co/90SZJRtYld
  • Aussie & Kiwi Dollar to USD Price: AUD/USD, NZD/USD Reversal’s Key Levels More details in the link below: https://www.dailyfx.com/forex/technical/home/analysis/aud-usd/2019/11/19/Aussie-Kiwi-Dollar-to-USD-Price-AUDUSD-NZDUSD-Reversals-Key-Levels-MK.html?CHID=9&QPID=917714 https://t.co/LXEGC13aCn
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.86%, while traders in France 40 are at opposite extremes with 80.81%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/x1FpC6lYus
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Silver: 0.06% Gold: -0.13% Oil - US Crude: -1.96% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/58K55NgnrB
  • Fed's Williams: - Money markets are looking good - Weighing flexible approach to setting interest rates
  • Fed's Williams: - Much focus on end of year in money markets - Following September's turmoil, money markets have really calmed down
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.93% France 40: 0.24% US 500: 0.22% Wall Street: 0.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/mNLZ6M4EIf
Nikkei 225 Tests Resistance as Equities Await US Earnings Season

Nikkei 225 Tests Resistance as Equities Await US Earnings Season

2019-04-12 05:00:00
Daniel Dubrovsky, Analyst
Share:

Asia Pacific Markets Wrap Talking Points

  • Equities trade mixed in Asia Pacific trade
  • S&P 500 eyeing US earnings season next
  • Nikkei 225 upside momentum is weakening

Find out what retail traders’ equities buy and sell decisions say about the coming price trend!

Asia Pacific benchmark stock indexes traded mixed following a similar session on Wall Street. Ebbing Fed rate cut bets pared an upside gap in the S&P 500, but downside follow-through during the early stages of Friday was lacking.

The Nikkei 225 traded about 0.5% higher into Tokyo close, supported by gains in Fast Retailing which is the parent company of Uniqlo. Australia’s benchmark ASX 200 fared slightly better, pushed higher by financials. Meanwhile, the Shanghai Composite declined roughly 0.5%.

Looking at currencies, the Australian Dollar declined on a pessimistic RBA Financial Stability review. The pro-risk currency however recovered as it tracked the Nikkei 225 higher. Meanwhile, the anti-risk Japanese Yen weakened.

In the ASEAN FX space, the Singapore Dollar came under selling pressure as well after the MAS cut inflation and growth expectations. Building expectations of a rate cut from the Philippine central bank sent USD/PHP higher as it formed a bullish reversal pattern.

Ahead, first quarter US earnings season begins. Traders will be watching what companies have to say about their outlooks given a slowing global economy. This poses as a downside risk for equities. Rosy University of Michigan sentiment may help offset that.

Nikkei 225 Technical Analysis

The Nikkei 225, using futures to show afterhours trade, rose to test resistance again at 21890. However, negative RSI divergence warns that upside momentum is ebbing and this may precede a turn lower towards support at 21520.

Nikkei 225 Daily Chart

Nikkei 225 Tests Resistance as Equities Await US Earnings Season

Chart Created in TradingView

FX Trading Resources

--- Written by Daniel Dubrovsky, Junior Currency Analyst for DailyFX.com

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.