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5 Dec 2014
Nikkei cautious in Asian trading
FXStreet (MUmbai) - The Japanese equities index traded flat to modestly positive in Asian trading, following five consecutive days of gains that took it to a seven-year high.
Nikkei trades +0.10% at 17885.50 at the time of writing, after clocking day’s high at 17971.50 in the early Asian hours. Screen Holdings Co. shares declined over 6 percent. Nippon Express, Taiyo Yuden and JGC Corp. lost 2 to 3.3 percent. Among the gainers, Sumco Corp. rose nearly 8.5 percent. Eisai Co., Minebea Co., Tokio Marine Holdings, Alps Electric, Pacific Metals and Mitsubishi Heavy Industries moved up 2 to 3 percent. The index slipped tracking weak cues from US markets overnight. While, investors eye much awaited US NFP data for any clue on further price directions.
Nikkei Technical Levels
The index has an immediate resistance stands at 17913.50 (Dec 4 High), above which gains could be extended to 18,000 levels. Meanwhile, support is seen at 17,818 (20-day SMA), 17720 (Dec 3 Close) and from here to 17687 (Dec 2 High) levels.
Nikkei trades +0.10% at 17885.50 at the time of writing, after clocking day’s high at 17971.50 in the early Asian hours. Screen Holdings Co. shares declined over 6 percent. Nippon Express, Taiyo Yuden and JGC Corp. lost 2 to 3.3 percent. Among the gainers, Sumco Corp. rose nearly 8.5 percent. Eisai Co., Minebea Co., Tokio Marine Holdings, Alps Electric, Pacific Metals and Mitsubishi Heavy Industries moved up 2 to 3 percent. The index slipped tracking weak cues from US markets overnight. While, investors eye much awaited US NFP data for any clue on further price directions.
Nikkei Technical Levels
The index has an immediate resistance stands at 17913.50 (Dec 4 High), above which gains could be extended to 18,000 levels. Meanwhile, support is seen at 17,818 (20-day SMA), 17720 (Dec 3 Close) and from here to 17687 (Dec 2 High) levels.