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.

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
GBP/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
More View more
Real Time News
  • Heads Up:🇨🇳 Industrial Profits (YTD) YoY (AUG) due at 01:30 GMT (15min) Previous: 57.3% https://www.dailyfx.com/economic-calendar#2021-09-27
  • RT @FxWestwater: Australian Dollar Forecast: $AUDUSD Action May Swing on Chinese Industrial Profits Link: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2021/09/26/Australian-Dollar-Forecast-AUDUSD-Action-May-Swing-on-Chinese-Industrial-Profits.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr https://…
  • Central banks often deem it necessary to intervene in the foreign exchange market to protect the value of their national currency. Learn how central bank intervention can impact your trading here: https://t.co/8G8mUX4so6 https://t.co/YTdM3KVtUk
  • The Consumer Price Index, better known by the acronym CPI, is an important economic indicator released on a regular basis by major economies to give a timely glimpse into current growth and inflation levels. Learn how to better understand CPI here: https://t.co/nAa0fHHGbZ https://t.co/Bnih4YvTdg
  • *Reminder: Weekly Strategy Webinar tomorrow morning at 8:30am ET on DailyFX! https://t.co/lxd5fZ5LG7
  • (Weekly Fundy) Crude Oil May Rise as Covid Case Growth Slows. WTI Eyes OPEC Outlook, Evergrande #CrudeOil #WTI #OPEC #Evergrande https://www.dailyfx.com/forex/fundamental/forecast/weekly/title/2021/09/26/Crude-Oil-May-Rise-as-Covid-Case-Growth-Slows-WTI-Eyes-OPEC-Outlook-Evergrande.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/76e2aGf3p0
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here: https://t.co/e4Cnoc1dk0 https://t.co/NhsMS1EY4b
  • We are heading into the final trading days for the month of September and event risk thins out amid the $SPX's rebound. This is what history says for the 39th week of the year and here is my take on the variable factors: https://www.dailyfx.com/forex/video/daily_news_report/2021/09/25/SP-500-and-Dollar-Have-Different-Views-for-Last-Week-of-September.html https://t.co/4OBVmrvI7I
  • Further your forex knowledge and gain insights from our expert analysts on AUD with our free guide, available today: https://www.dailyfx.com/free-trading-guides?ref-author=social#forecastschoices=AUD?QPID=30472&CHID=9 https://t.co/LHJi7CNFmM
  • $EURUSD https://t.co/KZyXX6p2oI
Nikkei 225 Technical Analysis: Index Testing the 16,000 Handle

Nikkei 225 Technical Analysis: Index Testing the 16,000 Handle

Oded Shimoni, Junior Currency Analyst

Talking Points:

- Nikkei 225 is currently above the 16,000 handle

- Another push lower might put the focus on a prior low at 15,800

- Long term range lows may be at risk on further downside conviction

If you’re looking for trading ideas, check out our Trading Guides Here

The Nikkei 225 is trading just above the 16,000 handle at the time of writing after pushing away from prior support at 16,500.

It seems like the push away from 16,500 could have an important role defining directional conviction after the price pivoted around the level for a couple of weeks.

The price 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 below 16,000 will coincide with a trend line support break, and may put the focus on prior low/support at around 15,800. A move below that level might put the focus on the 15,380 level followed by a long term range bottom around 15,000.

Levels of interest on a move higher could be the 16,500 level on a “support turned resistance” basis, followed by the 16,776 level, and the 17,000 handle, with the big range resistance lurking at the top.

Nikkei 225 Daily Chart: June 13, 2016

Nikkei 225 Technical Analysis: Index Testing the 16,000 Handle

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

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

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

DISCLOSURES