Skip to Content
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. See our updated Privacy Policy here.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View More
Nikkei 225 Retraces below 50% Fibonacci

Nikkei 225 Retraces below 50% Fibonacci

Nathalie Huynh, Contributor

Talking Points:

  • Strategy: Prepare for further declines under 50% Fibonacci
  • Upward momentum has waned
  • Support levels are 17,141 then 16,461.5, and resistance level is 61.8% Fibonacci at 18045.8

Nikkei 225 returned to the area below 50% Fibonacci at 17,438.5 on the second day of declines. A waning momentum indicates that further fall may be possible. A downward reversal would face a firm support level at 16461.5 which held throug March.

Investors with long position may consider to revise their strategy if the index extends lower and away from 50% Fibonacci, especially if it falls below the 17141 mark which capped the index for two weeks during late March. On the other hand, any rebound from here may face firm resistance around 61.8% Fibonacci at 18045.8.

Need a hand to start trading: Free Guides

To read the market’s momentum: Speculative Sentiment Index

Want to improve your trading strategy: Traits of Successful Traders

Daily Chart - Created Using FXCM Marketscope

--- Written by Nathalie Huynh, Strategist for

To receive Nathalie’s analysis directly via email, please SIGN UP HERE

Contact and follow Nathalie on Twitter: @nathuynh

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