Tried A Long Trade in Nikkei At the 100 SMA, But the Decline Doesn’t Seem to End
Skerdian Meta • 1 min read
The Nikkei is ending the week on a softer note, as fears surrounding domestic and global growth are still evident amid the escalating virus situation in Japan and the US. The stronger yen also weighed on exporters, as we see USD/JPY fall to 104.00 level.
On the week, the Nikkei is seen down by over 4%, more than any other major index. Elsewhere, the Hang Seng is down 0.3% while the Shanghai Composite is keeping higher by 0.2% in a bit of a mixed session for Chinese equities today. China’s economy is well and running, so there’s no reason for Chinese stocks to be bearish.