Home Nikkei 225 remains capped at 26750, but broader trend is still seen higher – Credit Suisse
FXStreet News

Nikkei 225 remains capped at 26750, but broader trend is still seen higher – Credit Suisse

In Japan, the Nikkei 225 rally stalled a while ago at 26750 – the 61.8% retracement of the entire 1989/2008 bear market – and analysts at Credit Suisse continue to look for a corrective setback from here.

Key quotes

“The Nikkei extends its expected consolidation at our 26745/50 objective – the 61.8% retracement of the entire 1989/2008 bear market – and we continue to look for a correction lower.” 

“Big picture, we view weakness as temporary, with an eventual break above 26720 seen opening the door to a move to resistance next at 32115/20, the 78.6% retracement of the 1989/2008 bear market.”

“Support for a pullback moves to 26325 initially, below which can mark a small top for a slide towards 25525/425, but this then ideally holding.”

 

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.