13 Feb 2015
Nikkei subdued on stronger yen
FXStreet (Mumbai) - The Japanese equities index opened slightly lower on a stronger yen, although remained higher throughout the session tracking the positive cues overnight from Wall Street and higher commodity prices, finally retreating slightly towards the close.
The benchmark Nikkei 225 index trades lower by -0.29% at 17927.05 levels, pulling away from fresh two month highs posted at 18005 levels in the previous session. The index lost footing after the yen strengthened after weak US data continued to drag the USD lower.
The index trades with a negative market breadth, the advance-decline ratio being 88:129. Credit Saison is the top gainer, up 4.22%, Shinsei bank is up 3.72%. Among the top losers, Citizen holdings is declining almost 10% after a stronger yen pulled the export-oriented company lower. Sapporo Holdings is down -7.33%.
Nikkei Technical Levels
The index has an immediate resistance stands at 18000 above which gains could be extended to 18030 levels. Meanwhile, support is seen at 17850 levels and from here to 17780 levels.
The benchmark Nikkei 225 index trades lower by -0.29% at 17927.05 levels, pulling away from fresh two month highs posted at 18005 levels in the previous session. The index lost footing after the yen strengthened after weak US data continued to drag the USD lower.
The index trades with a negative market breadth, the advance-decline ratio being 88:129. Credit Saison is the top gainer, up 4.22%, Shinsei bank is up 3.72%. Among the top losers, Citizen holdings is declining almost 10% after a stronger yen pulled the export-oriented company lower. Sapporo Holdings is down -7.33%.
Nikkei Technical Levels
The index has an immediate resistance stands at 18000 above which gains could be extended to 18030 levels. Meanwhile, support is seen at 17850 levels and from here to 17780 levels.