Nikkei clocks 6-1/2 month high as Yen drops

Japan’s Benchmark equity index to rose to a 6-1/2 month high of 17,685 levels as the Japanese Yen dropped to the lowest level since June.

Nikkei was last seen trading 301 points or 1.74% higher on the day at 17,675 levels. Shares in Citizen Holdings were up almost 9%, and were followed by a 8% rise in Sumco Corp. Meanwhile, the losing side included names like Suzuki Motor Corp. and Japan Tobacco.

Other Asian indices dropped on Trump outlook; however, Nikkei etched out gains on account of the rally in the USD/JPY pair to a high of 107.59 levels.

Nikkei Technical Levels

A break above 17,758 (Oct 2016 low) would open doors for 17,793 (weekly 100-MA). On the lower side, breakdown of support at 17,455 could yield a test of 17,318 (weekly 5-MA).