Green Pips In The Nikkei – Fresh Trading Levels - Forex News by FX Leaders

Green Pips In The Nikkei – Fresh Trading Levels

Posted Wednesday, April 26, 2017 by
Arslan Butt • 1 min read

Today, the Nikkei gave us another excellent trading signal which closed at profit level, helping us pocket quite a good number of pips. On the flip side, our forex trading signal on Gold also remained in profit, however, it's now consolidating into red territory.

The Japanese stocks edged higher today over the weaker Yen. The Nikkei's positively correlated indices rose due to favorable earnings reports. For example, the S&P 500 soared 0.6%. The Nasdaq touched record highs for the second day upon breaking $6000.

Nikkei - Trading Range Nikkei – 15 Mins Chart & Trading Range 

Nikkei – Intraday Trading Levels

Support                   Resistance

S1 19171                 R1 19347

S2 19069                 R2 19421

S3 18893                 R3 19597

Ending Remarks

At the moment, I'm not recommending any trade in Nikkei as it's stuck in a narrow trading range of $19240 – $19325. Let's wait for the breakout to determine further trends in the Japanese Index.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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