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
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
GBP/USD
Bearish
USD/JPY
Bullish
Gold
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
Bitcoin
Mixed
More View more
Real Time News
  • LIVE IN 30 MIN: In this session, Currency Analyst @ZabelinDimitri will preview the upcoming week's main political themes and discuss their impact on financial markets. https://www.dailyfx.com/webinars/146770987
  • How will the $JPY respond as the Bank of Japan appears to begin walking back from years of assuring the markets that ‘powerful monetary easing’ would be enough to stoke inflation? Get your market update from @DavidCottleFX here:https://t.co/ETZgk4xf5U https://t.co/ArTaaTninN
  • Join @ZabelinDimitri 's #webinar at 11:30 PM ET/4:30 AM GMT to find out how geopolitical risk will affect the markets in the week ahead. Register here: https://t.co/hsULxMNOtM https://t.co/dClnkF5vrD
  • LIVE NOW: Join DailyFX Senior Strategist @IlyaSpivak LIVE as he discusses the outlook for the financial markets in the week ahead! https://www.dailyfx.com/webinars/889679267
  • RT @BloombergAsia: China threatens Germany with retaliation if Huawei 5G is banned https://t.co/fNLdzRRCbL
  • EUR/USD Technical Analysis: Euro Flirting with Support Break - https://www.dailyfx.com/forex/technical/home/analysis/eur-usd/2019/12/16/EURUSD-Technical-Analysis-Euro-Flirting-with-Support-Break.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #EURUSD #technicalanalysis
  • LIVE IN 30 MIN: Join DailyFX Senior Strategist @IlyaSpivak LIVE as he discusses the outlook for the financial markets in the week ahead! https://www.dailyfx.com/webinars/889679267
  • #AUD had seen a little pressure Monday as investors wondered how much of a real step forward an interim #USChinaTrade agreement is. Still, China's retail sales and industrial data beat forecasts and gave it a lift. https://www.dailyfx.com/forex/market_alert/2019/12/16/Australian-Dollar-Chinese-Economic-Data.html?utm_source=Twitter&utm_medium=Cottle&utm_campaign=twr
  • Tune in to @IlyaSpivak 's #webinar at 10:00 PM ET/3:00 AM GMT for insight on the cross market weekly outlook. Register here: https://t.co/E213bTtq5C https://t.co/1hiYTne4JK
  • The $SGD is driven by the Monetary Authority of Singapore, which manages exchange rate instead of short-term interest rates. Learn more on the SGD and how to trade it.Get your market update from @ddubrovskyFX here:https://t.co/eWLM9XZs5Y https://t.co/NsEpx2pSqD
JPN 225 Technical Analysis: Resistance Holds Firm

JPN 225 Technical Analysis: Resistance Holds Firm

2016-02-24 06:35:00
Nathalie Huynh,
Share:

Talking Points:

  • Nikkei 225 Strategy: Consolidation with downside bias
  • Upside is restricted until a breach of 16,335 resistance
  • Signals point to further downside development

JPN 225 is facing tough resistance level at 16,335 on a 7th consecutive day. Downward momentum dominates in the near term hence this situation is unlikely to avert this week. A breach of resistance would be required for the uptrend to resume.

Traders with long position may keep stop close to 76.4% Fibonacci and support level at 15,545, in case the consolidation turns into a downward reversal. There is little chance of topside extension for the rest of this week.

The consolidation on the other hand does not present opportunities to range traders as there is no provision for downside development either.

Need a hand to start trading: Free Guides

Want to read market’s momentum: Speculative Sentiment Index

JPN 225 Technical Analysis: Resistance Holds Firm

Daily Chart - Created Using FXCM Marketscope

Need a hand to start trading: Free Guides

Losing Money Trading Forex? This Might Be Why.

Want to read market’s momentum: Speculative Sentiment Index

--- Written by Nathalie Huynh, Strategist for DailyFX.com

Contact and follow Nathalie on Twitter: @nathuynh

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

DISCLOSURES

News & Analysis at your fingertips.