The Nikkei is in the Buy Zone

Equity markets have been weak over the last few days, especially in the Asian markets. The Nikkei is down towards its lows and is once again back at a key support level.

Earlier today GDP out of Japan came in a little underwhelming, missing analysts expectations. As such we are currently trading down 0.5% on the day. Sentiment has been a little bearish over the last few sessions, to say the least.

Support to Hold

I really like 19300 in the Nikkei. It’s been holding strong for many weeks now and we’ve been able to play off this level numerous times. Every attempt brings us one step closer until it breaks, but for now, I’m going to keep pushing an edge until it dries up.

I’m looking for a rebound back to the 19400-19465 region.

ABOUT THE AUTHOR See More

Rowan Crosby

Asia-Pacific Analyst

Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.

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