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
GBP/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
USD/JPY
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
Gold
Bearish
Oil - US Crude
Bullish
Bitcoin
Bearish
More View more
Real Time News
  • Heads Up:🇪🇺 EUR Euro-Zone Industrial Production w.d.a. (YoY) (AUG) due at 09:00 GMT (15min), Actual: N/A Expected: -2.5% Previous: -2.0% https://www.dailyfx.com/economic-calendar#2019-10-14
  • RT @Tony_Nyman: MS #FX Trades of the week - Sell $USD/NOK at market for 8.74. Stop 9.20 - Sell $USD/CNH at market for 6.95. Stop 7.21 #Lowe…
  • German Economy Ministry - German economy remains in weak phase - Economic indicators have not yet pointed to a trend reversal - Pronounced recession is not expected $EUR
  • Greed has proven to be a hindrance more than assistance for traders. How does greed lead to #FOMOintrading? Find out from @RichardSnowFX here: https://t.co/aT8TZjlFqP https://t.co/XtDrpjR4yT
  • Crude Oil Prices May Give Back Gains as Brexit Optimism Wanes - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/commodities/2019/10/14/Crude-Oil-Prices-May-Give-Back-Gaons-as-Brexit-Optimism-Wanes.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #OOTT #crudeoil #Brexit
  • Have you joined @DailyFX @facebook group yet? Discuss your #forex strategies and brush up on your skills with us here: https://t.co/jtY1G7g8yx https://t.co/RlubZzBmyN
  • Why trade with Bollinger Bands®? Find out as a day trader, how you can use it to your advantage:https://t.co/dwODDDSsFi @WVenketas https://t.co/lzHvMaeOxU
  • (#ASEAN Fundamental Forecast) US Dollar Outlook on SGD, INR and IDR Amid Trade Talks, China GDP #USD $USDSGD $USDINR - https://www.dailyfx.com/forex/fundamental/article/special_report/2019/10/14/US-Dollar-Outlook-on-SGD-INR-and-IDR-Amid-Trade-Talks-China-GDP.html?CHID=9&QPID=917702 https://t.co/EKyMMEJa00
  • LIVE NOW: Join Currency Analyst @ZabelinDimitri as he previews the upcoming week’s main political themes and discusses their impact on the financial markets. Register here: https://www.dailyfx.com/webinars/146770987?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • China’s CNY Trade Balance (SEP) Actual: $39.65b Est: $34.75b Previous: $34.83b And China’s CNY Trade Balance CNY (SEP) Actual: 275.15b Est: 253.80b Previous: 239.60b
Nikkei 225 Technical Analysis: 200-Day Moving Average in Play

Nikkei 225 Technical Analysis: 200-Day Moving Average in Play

2016-09-30 04:27:00
Oded Shimoni, Junior Currency Analyst
Share:

Talking Points:

- Nikkei 225 continues to pivot around 16,500

- Range between 17,000 and 16,000 looks key in the short term

- Price still trades below 200-day SMA

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

The Nikkei 225 is nudging lower today, as the index continues to pivot around the 16,500 level.

Nikkei 225 prices have 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. Indeed, the price is still trading below its 200-day SMA at the time of writing.

This seems to make the range between 16,000 to 17,000 key in the short term. The index is trading in that narrower range for the past few months, with the 16,500 level in the middle indicative of short term momentum.

If the Nikkei manages to break above its 200-day SMA and the 17,000 handle, focus seems likely to shift for a potential attempt on the aforementioned longer term range highs.

On the other hand, a move to the downside might expose the 16,000 level, followed by the range lows around 15,000.

Nikkei 225 Daily Chart: September 30, 2016

Nikkei 225 Technical Analysis: 200-Day Moving Average in Play

--- 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

News & Analysis at your fingertips.