Nikkei Will Continually Depressed in Negative Zone

Learn Stocks : Nikkei - Japan ended the regular trading session on Friday (22/3) in negative territory with the lid down -2.35% or -297.16 points at 12338.53.

Nikkei fell apart due to a weaker yen, a decrease was also due to investors respond negatively to weak economic data in the euro zone and the recent threats to cut ECB emergency funding for the state Cyprus. On Thursday night session, the U.S. dollar fell from levels above 96 yen to a level below 95 yen, precisely towards 94.56 yen. So the effect of the exporters to sell these days, especially on the blue chips.

Technically, due to the effects of the strong yen overnight, causing the Nikkei index today plunged sharply and trigger changes in a number of technical indicators. Observed MACD and the Moving Average indicator that lasted 1 hour (H1) tekonfirmasi now bearish.

So that it will also continue to press for the session index futures (futures exchange) to a support level then 12 320 12 350 (61.8% Fibonacci retrace) to 12 275. While limited reinforcement may only rely on Stochastic indicators are starting to look up-trend, so the conditions were also allows the index to rise again to a resistant 12 430 (38.2% Fibonacci retrace) and then up to 12 470 or 12 500 (23.6% Fibonacci retrace).