News & Analysis at your fingertips.

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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bullish
Oil - US Crude
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
Wall Street
Bearish
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
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • The first of many??? #jpm #usbanks https://t.co/Jog9lYjgAq
  • 🇺🇸 MBA Mortgage Applications (09/APR) Actual: -3.7% Previous: -5.1% https://www.dailyfx.com/economic-calendar#2021-04-14
  • 🇿🇦 Retail Sales YoY (FEB) Actual: 2.3% Expected: -1.8% Previous: -3.5% https://www.dailyfx.com/economic-calendar#2021-04-14
  • $JPM Q1 EPS 4.50 vs 3.05 expected - Revenue 33.1bln vs 30.42bln expected - IB revenue 2.85bln vs 2.46bln expected
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.75%, while traders in France 40 are at opposite extremes with 72.55%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/gpaHLLtpxK
  • Heads Up:🇺🇸 MBA Mortgage Applications (09/APR) due at 11:00 GMT (15min) Previous: -5.1% https://www.dailyfx.com/economic-calendar#2021-04-14
  • Heads Up:🇿🇦 Retail Sales YoY (FEB) due at 11:00 GMT (15min) Expected: -1.8% Previous: -3.5% https://www.dailyfx.com/economic-calendar#2021-04-14
  • Slippage can be a common occurrence in forex trading but is often misunderstood. Understanding how forex slippage occurs can enable a trader to minimize negative slippage, while potentially maximizing positive slippage. Learn about FX slippage here: https://t.co/Blrl0uF2Ct https://t.co/N3j8cfLOKR
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.59% Silver: 0.05% Gold: -0.17% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/fF1mAayDjI
  • Excellent Coinbase ($COIN) primer....#coin #coinbase @DailyFX https://t.co/J5eSK7W0qM
Nikkei 225 Technical Analysis: Index Heading into Confluence Resistance

Nikkei 225 Technical Analysis: Index Heading into Confluence Resistance

Oded Shimoni, Junior Currency Analyst

Talking Points:

- Index continues trading higher after clearing 16,500

- Focus may turn to the 17,000 area which has a confluence of resistance levels

- Break above 17,000 may expose 2016 highs below the 18,000 handle

Learn good trading habits with the “Traits of successful traders” series

The Nikkei 225 is trading higher at the time of writing, continuing its rally after finding support at the 16,000 level.

The 17,000 level might be in focus now for possible resistance. The 200-day SMA is also in proximity, combined with potential trend line resistance as well.

The index has been ranging between the well-defined 18,000 resistance zone and the 15,000 support since the start of the year, with gains appearing to be corrective in the context of the near term down trend from June 2015 highs.

A break above 17,000 may be significant and expose the range highs slightly below the 18,000 level which seems likely to really test buyer’s conviction.

With that said, if price fails at the 17,000 level or moves below 16,500, this may shift focus to the 16,000 handle for potential support, and a break lower could expose the 15,000 range lows.

Nikkei 225 Daily Chart: August 15, 2016

Nikkei 225 Technical Analysis: Index Heading into Confluence Resistance

--- Written by Oded Shimoni, Junior Currency Analyst for DailyFX.com

To contact Oded Shimoni, e-mail oshimoni@dailyfx.com

Follow him on Twitter at @OdedShimoni

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

DISCLOSURES