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.

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
EUR/USD
Bullish
Oil - US Crude
Bearish
Wall Street
Bearish
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
Bullish
GBP/USD
Bullish
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
More View more
Breaking news

British Pound sinks as EU Brexit negotiator Barnier says there may not be an EU/UK deal

Real Time News
  • Heads Up:🇬🇧 BoE FPC Meeting due at 09:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-12-02
  • 🇮🇹 Unemployment Rate (OCT) Actual: 9.8% Expected: 9.9% Previous: 9.7% https://www.dailyfx.com/economic-calendar#2020-12-02
  • 🇮🇹 Unemployment Rate (OCT) Actual: 9.8% Expected: 9.9% Previous: 9.6% https://www.dailyfx.com/economic-calendar#2020-12-02
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 94.23%, while traders in EUR/USD are at opposite extremes with 76.39%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/tOPLdyRuXM
  • Heads Up:🇮🇹 Unemployment Rate (OCT) due at 09:00 GMT (15min) Expected: 9.9% Previous: 9.6% https://www.dailyfx.com/economic-calendar#2020-12-02
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here: https://t.co/vg7w10la3j https://t.co/5GU4pInyEz
  • Commodities Update: As of 08:00, these are your best and worst performers based on the London trading schedule: Gold: 0.12% Oil - US Crude: -0.06% Silver: -0.42% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/Or5dlWpp5V
  • Oil - US Crude IG Client Sentiment: Our data shows traders are now net-long Oil - US Crude for the first time since Nov 17, 2020 when Oil - US Crude traded near 4,158.50. A contrarian view of crowd sentiment points to Oil - US Crude weakness. https://www.dailyfx.com/sentiment https://t.co/PfSmrjovuW
  • Forex Update: As of 08:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.03% 🇳🇿NZD: 0.01% 🇨🇭CHF: -0.03% 🇪🇺EUR: -0.10% 🇯🇵JPY: -0.25% 🇬🇧GBP: -0.43% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/uazAW4gwnj
  • EURGBP popping higher on negative Brexit headlines...+0.50% @ 0.9035 #eurgbp #brexit @DailyFXTeam https://t.co/inCrIn1xc2
Nikkei 225 Technical Analysis: Does Something Have To Give?

Nikkei 225 Technical Analysis: Does Something Have To Give?

2017-09-07 04:30:00
David Cottle, Analyst
Share:

Talking Points:

  • The Tokyo stock benchmark looks a little shaky
  • It has just made another lower high and the year’s gains are now wafer thin
  • However, its range also looks quite solid. A ‘big moment’ may have to wait

How do retail traders view your favourite currency of the moment? Check out the DailyFX Sentiment Page

In one sense, it would be easy to say that some sort of crunch must be coming for the Nikkei 225.

The index is once again within a whisker of losing all its 2017 gains. If it falls to 19,232 – from its current 19,431 – then it will be back to where it started the year. Such a fall seems all-too likely as well, in the circumstances. I wondered in last week’s technical snapshot whether or not the index might be making a lower high from its last significant top.

Nikkei 225 Technical Analysis: Does Something Have To Give?

Well, we now have our answer, and it’s a “yes”. August 31’s peak of 19,712 was indeed below the last one (August 15’s 19,820), and the year’s starting line is coming under pressure once more.

Nikkei 225 Technical Analysis: Does Something Have To Give?

The index’s long slide from June’s 2017 peak remains in place and, indeed, it accelerated with a series of sharp, early-August falls. So surely the surrender of the year’s gains in total is only a matter of time.

Well, possibly. But it could be a matter of quite some time. Aside from all of the above the Nikkei has settled quite comfortably into a 400-point range which has contained all the action ever since August 11. It’s the gray box in the chart below. Although both the trend and the index’s moving averages look quite bearish, the range also looks solid. If yet another try at the 2017 start line fails it may just be best to assume that those 400 points are still all you have to play with.

Nikkei 225 Technical Analysis: Does Something Have To Give?

--- 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.

DISCLOSURES