18 Jun 2015
Nikkei drops on stronger yen ahead of key US data
FXStreet (Mumbai) - The Japanese equities index extended losses for the third straight session and dropped sharply as traders remain cautious ahead of a flurry of US economic data due to be released later today. While falling home prices in China also dampened market sentiment.
Currently, the benchmark Nikkei 225 index trades -0.74% lower at 20070, bouncing-off fresh one week lows reached at 20042.43. The index also edged lower on broad yen strength following dovish FOMC statement, which dented exporters’ stocks.
The Nikkei 225 index trades with a negative market breadth with the advance decline ratio of 21:201. Yamaha Corp is the top gainer, up nearly 7%, followed by Alps Electric up 2.33%. The top loser so far is Sumco Corp, down -3.63%, followed by Sumitomo Realty which loses -3.41%.
Nikkei Technical Levels
The index has an immediate resistance stands at 20200. Meanwhile, support is seen at 20k levels and from here to 19890 levels.
Currently, the benchmark Nikkei 225 index trades -0.74% lower at 20070, bouncing-off fresh one week lows reached at 20042.43. The index also edged lower on broad yen strength following dovish FOMC statement, which dented exporters’ stocks.
The Nikkei 225 index trades with a negative market breadth with the advance decline ratio of 21:201. Yamaha Corp is the top gainer, up nearly 7%, followed by Alps Electric up 2.33%. The top loser so far is Sumco Corp, down -3.63%, followed by Sumitomo Realty which loses -3.41%.
Nikkei Technical Levels
The index has an immediate resistance stands at 20200. Meanwhile, support is seen at 20k levels and from here to 19890 levels.