Nikkei retreats from 9-month high

The Japanese benchmark equity index Nikkei clocked a 9-month high of 17,621.7 levels before deflating to 17,380 levels.

The index opened higher, tracking the overnight rise in the Dollar-Yen pair to near 107.00 levels, however, the strength in Yen seen in the Asian session weighed over the index.

Nevertheless, the index appears poised to end the week on a positive note. The index was last seen trading around 17,390 levels.

Nikkei Technical Levels

Break below 17,251 (May 31 high) would open doors for a sell-off to 17000 levels. On the higher side, breach of resistance at 17,473 (Nov 11 high) would shift risk in favor of a re-test of the nine month high of 17,621.7.