The Nikkei is at a key juncture having retraced the ground lost after gapping lower last week

Chris Weston

The Nikkei is at a key juncture having retraced the ground lost after gapping lower last week. A rejection of 15,661 will be highly negative from a price action perspective and suggest a potential correction is on the cards. A close above 15,661 would suggest the index is ready to make a move to the recent high of 15,794 and as things stand our opening call is right on this key resistance. USD/JPY is testing the December 3 high of 103.38 and a break here could help the Japanese stock market.


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