Today at a glance: the Nikkei went up to 28,383 today, gaining 0.95%.
Meanwhile, Japan Services PMI released today at 00:30 UTC with a figure of 50, while the previous figure was 53.2.
The MACD is significantly below its signal line, which suggests the market is running out of bearish momentum and could revert to a positive outlook as bulls regain control. In contrast, the Nikkei's upper Bollinger Band® is at 28,522, this is a slight indication of a slowdown. The Nikkei could be slowing down soon as it approaches resistance at 28,500. Of course, crossing it might suggest further gains are ahead.
Overall, looking at the technical analysis landscape, it seems the Nikkei likely to continue pointing upward in the short term.
The Nikkei shows positive signs, other assets are also on par: notably, KOSPI Composite Index rose 0.96% today and closed at 2,418. Nasdaq is trading around 11,300 after ending today's session at 11,174 (up 0.99% today). S&P 500 rises 0.59% today and closed at 4,003.58.
Furthermore, the market is looking at Japan Tokyo Core CPI (YoY) (Nov) will be released today at 23:30 UTC. Japan CPI Tokyo Ex Food and Energy (MoM) (Nov) scheduled to come out today at 23:30 UTC. Japan CFTC JPY speculative net positions is scheduled for tomorrow at 19:30 UTC.
The index has been trending positively for about a month. The Nikkei is now trading 182,233% above the significant low (15.42) it slumped to 2 months ago.