Nikkei 225 continues to outperform other Indices
Nikkei 225 continues to outperform other Indices
JP225 has been trending up since the third week of March. Economic news from both the US and Japan are the contributing factors to the bullish trend. In the short term, a breach of 30,000 seems likely.
There are strong first-quarter earnings, coupled with the dovish Bank of Japan. Elsewhere in China, the numbers are rather disappointing for Industrial Production and Retail Sales. In the US, the current hot topics are the debt crisis, the hawkish Fed, and concerns about the safety of the deposits.
Nikkei 225 index has been outperforming other indices. Geopolitics and encouraging fundamentals from Japan are making this asset a lucrative one. However, one needs to exercise caution when trading JP225, as it is considered one of the most volatile indices, said Abrar Bhatti, an analyst at Exness.
On the daily charts, the technical resistance area of 30,000 is yet to be broken. If it does happen, the next resistance area will be the 30,300, followed by a high made on 21st September 2021. Moreover, the index is currently trading well above 20 days Moving average, making it lucrative for trend traders.
On the contrary, bears will try to push the index down to the 29,300 area. The price of 28,500 will serve as an ultimate support area.
JP225 has been trending up since the third week of March. Economic news from both the US and Japan are the contributing factors to the bullish trend. In the short term, a breach of 30,000 seems likely.
There are strong first-quarter earnings, coupled with the dovish Bank of Japan. Elsewhere in China, the numbers are rather disappointing for Industrial Production and Retail Sales. In the US, the current hot topics are the debt crisis, the hawkish Fed, and concerns about the safety of the deposits.
Nikkei 225 index has been outperforming other indices. Geopolitics and encouraging fundamentals from Japan are making this asset a lucrative one. However, one needs to exercise caution when trading JP225, as it is considered one of the most volatile indices, said Abrar Bhatti, an analyst at Exness.
On the daily charts, the technical resistance area of 30,000 is yet to be broken. If it does happen, the next resistance area will be the 30,300, followed by a high made on 21st September 2021. Moreover, the index is currently trading well above 20 days Moving average, making it lucrative for trend traders.
On the contrary, bears will try to push the index down to the 29,300 area. The price of 28,500 will serve as an ultimate support area.