Nikkei futures edge lower

By FXStreet Asian regional equity markets were broadly in the red this Wednesday, although Japan was closed for second day in-a-row on a local holiday. The Nikkei latest close registered Monday was at 16,147.38, with futures grinding lower in electronic trading, tracking losses from European and American equities.

Now hovering around 15,880, volumes around the benchmark remain low for the obvious reason.

Nikkei technical perspective

“The overall tone is clearly bearish, as daily basis, the index posted a lower low and a lower high, whilst the technical indicators maintain their bearish slopes within negative territory, as the benchmark develops well below its moving averages,” said Valeria Bednarik, chief analyst at FXStreet. “In the 4 hours chart, the 20 SMA has kept capping the upside, whilst the technical indicators remain mostly flat within bearish territory, in line with the dominant trend.”

Support levels: 15,812 15,755 15,691. Resistance levels: 15,907 15,968 16,057.
For more information, read our latest forex news. …read more

Source:: FX Street