Forex Review Online
No Result
View All Result
  • Home
  • Crypto
  • Education
  • News
start trading today
  • Home
  • Crypto
  • Education
  • News
No Result
View All Result
Forex Review Online
No Result
View All Result
Home ANALYSIS

Japanese stocks look to break out of range as Suga steps down as prime minister

A.R Chowdhury by A.R Chowdhury
September 3, 2021
Reading Time: 2 mins read
0
Japanese stocks look to break out of range as Suga steps down as prime minister

Nikkei up over 2% on the day

Nikkei
Invest in yourself. See our forex education hub.

An upside break beckons for Japanese stocks with the Nikkei now up over 2% and breach past the topside resistance trendline for the year. Adding to that, the Topix has also risen to its highest in 30 years on the news that Suga will be stepping down:

Topix

Suga’s handling of the pandemic has been heavily critiqued by the public and polling figures clearly indicate that. A change of leadership is regarded as a positive for Japanese stocks but it will be tough to position the news in light of the overall situation.

Japanese stocks were among the darling of investors last year as the BOJ bolstered ETF support but that is no longer the case this year. As such, we have seen a more meandering mood since March – rangebound in the Topix, the index that the BOJ focuses on more.

Adding to that is the likelihood that even with a change of premiership, it isn’t likely to spur any major changes on policies in Japan and as such, the politics will remain the same regardless of whoever is in charge.

Nonetheless, one can’t ignore the technicals and this could give buyers room to explore some short-term upside perhaps on a break as seen above.

Source link

RELATED POSTS

EURGBP erases gains and returns to a familiar bias defining level

New highs for US stocks. The Nasdaq continues to lead

USDJPY has 3 key technical levels that have stalled the rally higher today

ShareTweetPin
A.R Chowdhury

A.R Chowdhury

Related Posts

EURGBP erases gains and returns to a familiar bias defining level
ANALYSIS

EURGBP erases gains and returns to a familiar bias defining level

August 14, 2022
New highs for US stocks. The Nasdaq continues to lead
ANALYSIS

New highs for US stocks. The Nasdaq continues to lead

August 14, 2022
USDJPY has 3 key technical levels that have stalled the rally higher today
ANALYSIS

USDJPY has 3 key technical levels that have stalled the rally higher today

August 14, 2022
WTI crude oil futures settle at $92.09
ANALYSIS

WTI crude oil futures settle at $92.09

August 14, 2022
Bitcoin technical analysis, bulls might be giving up soon
ANALYSIS

Bitcoin technical analysis, bulls might be giving up soon

August 14, 2022
The weekend forex technical report for the week of August 15, 2022
ANALYSIS

The weekend forex technical report for the week of August 15, 2022

August 14, 2022
Next Post
NZD/USD climbs to highest since mid-June as kiwi bulls stay poised for a further upside break

NZD/USD climbs to highest since mid-June as kiwi bulls stay poised for a further upside break

Aussie stretches gains to fresh highs in a month

Aussie stretches gains to fresh highs in a month

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended Stories

EURUSD back above swing lows from 2021/2022 but more work to do

EURUSD back above swing lows from 2021/2022 but more work to do

February 28, 2022

USDCAD falls toward 200 day MA

June 24, 2020
Cable falls below 1.3700 as dollar keeps firmer on softer risk tones

Cable falls below 1.3700 as dollar keeps firmer on softer risk tones

September 21, 2021

Popular Stories

  • New highs for US stocks. The Nasdaq continues to lead

    New highs for US stocks. The Nasdaq continues to lead

    0 shares
    Share 0 Tweet 0
  • The USD is the strongest and the NZD is the weakest as the NA session begins

    0 shares
    Share 0 Tweet 0
  • EURGBP erases gains and returns to a familiar bias defining level

    0 shares
    Share 0 Tweet 0
  • What is forex and How does it work?

    0 shares
    Share 0 Tweet 0
  • Bitcoin technical analysis, bulls might be giving up soon

    0 shares
    Share 0 Tweet 0
Forex Review Online

© 2022 My Forex Review - Designed with Jnews Theme.

Navigate Site

  • Home
  • Crypto
  • Education
  • News

Follow Us

No Result
View All Result
  • Home
  • Crypto
  • Education
  • News

© 2022 My Forex Review - Designed with Jnews Theme.