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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Chris Weston

Chris Weston

Chief Market Strategist, IG Markets

Chris joined IG as a sales trader in 2006, having worked previously at Morgan Stanley, Credit Suisse and Merrill Lynch, gaining exposure to both equity and fixed income trading. After accruing 15 years' experience in financial markets, Chris...

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