Weekly Support & Resistance Levels – Nikkei In Focus - Forex News by FX Leaders

Weekly Support & Resistance Levels – Nikkei In Focus

Posted Thursday, May 25, 2017 by
Arslan Butt • 1 min read

The Japanese Stock market index, Nikkei, plunged in response to "Risk On" sentiment. We are done with ECB Mario Draghi, FOMC meeting minutes and OPEC meetings. All of these came as no surprise!

Therefore, this morning, the global stock markets continued their bullish momentum due to lack of uncertainty. Japan stocks were higher due to better than expected earnings in the Banking, Paper,  Power, and Pulp sector companies.

Anyhow, let's have a look at the fresh weekly trading levels as the Nikkei is more likely consolidated in these levels.

Nikkei – JPN225 – Trading Levels

Support            Resistance

S1: 19376             R1: 19921

S2: 19207             R2: 20090

S3: 18935             R3: 20363

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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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