Japan is currently facing an inflation high not seen in 40 years. The weak yen and the increased cost of foreign supply for industrial commodities and manufacturing parts are slowing down the economy of the country.
On the technical front the index has broken the support of the triangle pattern and a bearish move might be expected. RSI indicator is heading below 50 neutral line and MACD histogram is below 0.
If the pattern continues the price might test the support levels of 27831. In the opposite scenario, the price might try to reach its previous resistance at 27929.50
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On the technical front the index has broken the support of the triangle pattern and a bearish move might be expected. RSI indicator is heading below 50 neutral line and MACD histogram is below 0.
If the pattern continues the price might test the support levels of 27831. In the opposite scenario, the price might try to reach its previous resistance at 27929.50
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.