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
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
Oil - US Crude
More View more
Real Time News
  • The Australian Dollar and New Zealand Dollar tend to rise with stocks. They have recently fallen despite gains in the #SP500. What does this mean for $AUDUSD and $NZDUSD ahead? #AUD #NZD #RBA #RBNZ - https://www.dailyfx.com/forex/fundamental/article/special_report/2020/01/17/AUDUSD-NZDUSD-Outlook-Looks-Past-Stocks-to-Rate-Cut-Bets.html?CHID=9&QPID=917702 https://t.co/ddf2fV7Kyl
  • A few snippets from today's commentary. Check out the link below for the full story (via @DailyFX). https://t.co/I31tuq764r https://t.co/x0BaiOFA1P
  • 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/e2YrN3dBrl
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 98.00%, while traders in France 40 are at opposite extremes with 79.59%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/UL7hqSD2Ki
  • US Dollar Forecast: $USD Lacking Impetus Ahead of Consumer Sentiment #Forex traders shift focus away from US-China trade deal headlines - perhaps toward the monthly release of #ConsumerSentiment data for volatility and clues on the Greenback's next move https://www.dailyfx.com/forex/fundamental/us_dollar_index/usd_trading_today/2020/01/16/us-dollar-forecast-usd-lacking-impetus-ahead-of-consumer-sentiment.html
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.11% 🇦🇺AUD: -0.02% 🇯🇵JPY: -0.03% 🇨🇭CHF: -0.05% 🇬🇧GBP: -0.06% 🇨🇦CAD: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Kxcb9EtIWb
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.45% France 40: 0.26% Wall Street: 0.07% US 500: 0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/I5YIsKQAog
  • 🇯🇵 JPY Tertiary Industry Index (MoM) (NOV), Actual: 1.3% Expected: 1.0% Previous: -5.2% https://www.dailyfx.com/economic-calendar#2020-01-17
  • The $JPY has weakened as a bounce-back in risk appetite saps haven-asset demand. However, the old uptrend line still provides clear resistance. Get your market update from @DavidCottleFX HERE:https://t.co/IMhgQ9jbF9 https://t.co/I7087olftk
  • Heads Up:🇯🇵 JPY Tertiary Industry Index (MoM) (NOV) due at 04:30 GMT (15min), Actual: N/A Expected: 1.0% Previous: -4.6% https://www.dailyfx.com/economic-calendar#2020-01-17
Nikkei 225 Technical Analysis: Topping Out or Pushing On?

Nikkei 225 Technical Analysis: Topping Out or Pushing On?

2017-06-27 00:35:00
David Cottle, Analyst

Talking Points:

  • 20,0000 is usually a big number for the Japanese equity benchmark
  • Long stays around and, especially, above that point have been rare beasts in the recent past
  • How long can the current foray go on?

Get live coverage of the economic data which move the Nikkei 225 at the DailyFX webinars

The Nikkei 225 looks quite comfortable around the big, 20,000 level. But how much higher does it want to go?

Well, assuming that you’re a Nikkei bull, we’ll start with the good news. The index is still clearly within the uptrend channel which has marked its long and quite impressive rise from the lows of mid-May. That gain has taken the Tokyo equity benchmark to two-year highs and seen it top that psychologically important 20,000 mark which it remains above. Just.

Nikkei 225 Technical Analysis: Topping Out or Pushing On?

Now for the less-good news. As the chart makes clear, the top of that upside channel hasn’t seen a lot of action; not since the May 9 peak delineated its upper boundary. And we might wonder just how valid the channel really is anyway, seeing as both its upper and lower boundaries are marked by relatively few price points.

Indeed, the more recent bumpy, sideways slog across the channel’s lower reaches makes it more likely that the index has in fact been consolidating for the past month or so. For sure it has done so in a higher range than that which came before, but it remains to be seen whether that consolidation marks a top or a base for a push yet higher.

Nikkei 225 Technical Analysis: Topping Out or Pushing On?

Part of this stop-go trade may be down to investors’ natural fear of the atmosphere much above that 20,000 level. The index hasn’t been up here since the summer of 2015 after all. Back then it only managed a three-month stay and 21,000 was as far as it managed to push beyond the 20,000 line.

Bulls can certainly be pleased that nerves have held at this height for as long as they have. But if the index can’t start to extend its comfort zone to the upper end of the channel then it looks as though recent history might repeat itself at 20,000 for the index.

--- Written by David Cottle, DailyFX Research

Contact and follow David on Twitter:@DavidCottleFX

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


News & Analysis at your fingertips.