Nikkei: Sellers emerge ahead of 18k, Yen crosses still bid

FXStreet (Bali) – Risk aversion, while not fully reflected in the Yen crosses, which still remain decently bid, despite off highs, has taken a turn for the worse in Tokyo, and ahead of the Chinese market open at 1.30GMT.

Nikkei knocked down as sellers emerge ahead of 18k

The Nikkei 225, which saw a constructive bid in the early stages of Tokyo, saw heavy offers taking the index down from just under the psychological 18,000 – key descending trendline intersection confluence – to test 17,800 support, before a mild rebound at present.

Yen worst performer in Asia, so far…

In the FX arena, the Aussie remains the best currency in Asia today, while the Japanese Yen has seen the worst performance, allowing AUD/JPY to test the 83.00 key level ahead of the Australia’s NAB report at 1.30GMT. USD/JPY trades just under the 119.50, with bulls in need to recover 119.60 resistance in order to make further progress today. Meanwhile, GBP/JPY continues to battle through 182.60 key resistance, not yet re-taken (key descending trendline intersection on the way), while EUR/JPY remains defiant, challenging 133.35 resistance

Risk aversion, while not fully reflected in the Yen crosses, which still remain decently bid, despite off highs, has taken a turn for the worse in Tokyo, and ahead of the Chinese market open at 1.30GMT.

(Market News Provided by FXstreet)