{"id":120305,"date":"2018-01-25T09:45:07","date_gmt":"2018-01-25T14:45:07","guid":{"rendered":"http:\/\/countingpips.com\/?p=120305"},"modified":"2018-06-01T15:43:49","modified_gmt":"2018-06-01T15:43:49","slug":"nikkei-technical-analysis-strengthening-of-yen-may-obstruct-japanese-exporters","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/01\/nikkei-technical-analysis-strengthening-of-yen-may-obstruct-japanese-exporters\/","title":{"rendered":"NIKKEI: Technical Analysis – Strengthening of Yen may obstruct Japanese exporters"},"content":{"rendered":"
January 25, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

The strengthening of the yen may obstrct Japanese exporters<\/strong><\/p>\n

The products of the Japanese exporters may become less competitive on the background of the strengthening of the yen to the 4-month high. Will the Nikkei stock index<\/a> drop?<\/p><\/blockquote>\n

The Japanese currency strengthened against the US dollar by 3.5% in 2 weeks and tested the psychological level of 109 yen per dollar. In its turn, Nikkei reached the psychological level of 24,000 points for the first time in 26 years, but has not been able to settle above it yet. An additional negative was the increase in world oil prices. On this background, the stocks of the Japanese transportation, petrochemical and construction companies dropped. On Friday morning important inflation data for December will be released in Japan, which may affect the dynamics of the yen and Nikkei. Meanwhile, a slight increase in consumer prices is expected.<\/p>\n

\"Nikkei\"<\/p>\n

On the daily timeframe, Nikkei: D1<\/b> is in the rising trend, but its growth has slowed down and a number of technical analysis indicators formed bullish signals. A downward correction is possible in case of the publication of weak corporate data and the further strengthening of the yen.<\/p>\n