Nikkei 225 Rallies to Catch up The Partial Deal Gains

Summary:
• Asian indices ended mixed as the improved sentiment over the trade negotiations between officials from China and the USA fades away. The Hang Seng index

Asian indices ended mixed as the improved sentiment over the trade negotiations between officials from China and the USA fades away. The Hang Seng index finished 0.10% lower at 26,495, the Shanghai Composite ended 0.56% lower at 2,991, while the Singapore Straits Times is 0.20% lower at 3,118. Aussie stocks also finished higher; the ASX 200 ended 0.14% higher at 6,652.

Nikkei 225 finished 1.87% higher at 22,207 as Japan stock market was closed yesterday and attempted to catch up the trade deal rally today.

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Nikkei Support and Resistance Levels

The Nikkei index jumped above the 100-day moving average, enhancing the bullish momentum as the index holds above all major daily moving averages. On the upside resistance for the Nikkei 225 stands at 22,219 today’s high, a break above, will set the stage for a move up to 22,350 the high from April 22. On the downside, immediate support stands at 22,049, today’s low and then at 21,245 the 100-day moving average.

In Asian forex markets USDJPY trading 0.02% lower at 108.36 the Aussie dollar trades 0.08% lower at 0.6770, while NZDUSD trades 0.18% lower at 0.6286 versus USD. Gold trades higher today at 1,491, while WTI crude oil is 0.73 lower at $53.20 per barrel.