Nikkei225 - is 63,000 a support or resistance here?
The $Nikkei 225 Index(N225.JP)$ is under pressure this morning, with the Nikkei225 Dec futures falling 2.8% to 62,860 as of 955AM, following overnight US tech earnings disappointment from Amazon and Intel
The sell-off comes against a surprisingly resilient domestic backdrop. Japan reported this morning that its September industrial output rose 2.2% from the previous month, well above the 1.2% estimate by the market
🕚Investors now turn their attention to the Bank of Japan's policy decision due at 1100AM Singapore time. While markets broadly expect rates to remain unchanged, traders will be watching closely for any changes in tone regarding inflation, growth, or future policy direction
❓With bearish sentiment from Wall Street colliding with supportive Japanese economic data, the key question becomes: will 63,000 act as support and spark a rebound, or has it turned into resistance that could trigger another leg lower?
👩🏫Investors looking for technical levels beyond the 63,000 level can read Market Technician Binni Ong's Nikkei225 chart commentary here: https://warrants.com.sg/marketnews/highlight/todayhighlight/7961
Bullish on a rebound above 63,000? You can consider trading the move using trending call warrant $NKY 72000MBeCW270312(HXOW.SI)$ (https://warrants.com.sg/tools/livematrix/HXOW) which is 18.9% lower to SGD 0.107 with the Nikkei225 futures down 2.8% to 62,860 as of 955AM
✴Expecting further downside? Trending put warrant $NKY 57000MBePW270312(VT9W.SI)$ (https://warrants.com.sg/tools/livematrix/VT9W) has gained 16.3% today to SGD 0.143, offering leveraged exposure to any further weakness in the index
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