21 Jan 2014
Nikkei 225 still not sending optimistic signals for Yen crosses
FXstreet.com (Bali) - The Nikkei 225 futures market is currently trading at 15,692 (-0.21%), with the price still stuck in a directionless bias just below the daily tenkan and kijun, flat lined 4 days now.
Focus on the Nikkei 225
As usual, action in Yen crosses will be largely dependable on the index directional bias for the session. As technicals stand, while choppy, sellers have maintained lower lows ever since the top found just above 16,300, with selling being more impulsive than the counter-bull moves.
Nikkei 225 needs to re-take 16,000
In order for the technical picture in Yen crosses (Asian session) to clear up, it is imperative that the Nikkei 225 regains the 16,000 handle. On the contrary, risk continues slightly skewed towards further selling pressure in the benchmark index, which should keep upside in Yen crosses capped.
Focus on the Nikkei 225
As usual, action in Yen crosses will be largely dependable on the index directional bias for the session. As technicals stand, while choppy, sellers have maintained lower lows ever since the top found just above 16,300, with selling being more impulsive than the counter-bull moves.
Nikkei 225 needs to re-take 16,000
In order for the technical picture in Yen crosses (Asian session) to clear up, it is imperative that the Nikkei 225 regains the 16,000 handle. On the contrary, risk continues slightly skewed towards further selling pressure in the benchmark index, which should keep upside in Yen crosses capped.