Nikkei Futures Point to a Lower Opening - FXStreet
The Japanese Nikkei will reopen this Friday after a three-day holiday,
having had its latest official close at 16,147.38. During these days,
European and American stocks edged lower as well as commodities,
suggesting the index may open lower, albeit not that much, given that
the Japanese yen pared gains and pulled back.
Nikkei technical view
“Poised
to open around 16,072 according to futures trading, the daily chart
shows that the downward potential has eased, although the risk remains
towards the downside, as the benchmark holds below its moving averages,
but the technical indicators head north within bearish territory,” said Valeria Bednarik,
chief analyst at FXStreet. “In the 4 hours chart, the technical bias is
neutral, due to the lack of volume seen over these last few days, as
the indicators remain flat right above their mid-lines, whilst the index
is a handful of points above a horizontal 20 SMA. Some wild moves can
be seen at the beginning of the session as investors adjust positions to
current sentiment, but the index is expected to stabilized afterwards,
and enter wait-and-see mode ahead of US employment report.”
Support levels: 15,952 15,870 15,812. Resistance levels: 16,127 16,200 16,285.
