A quick look at today: the Nikkei slides down from 28,156 to 28,052, losing 104.51 points (0.37%) today.
While price action maintains a negative bias, Japan Tertiary Industry Activity Index (MoM) released today at 04:30 UTC with a figure of 0.2, while the previous figure was -0.2. Japan Trade Balance (Nov) came out at -2 trillion, while a consensus of analysts was expecting -1.68 trillion. Japan Exports released yesterday at 23:50 UTC is better than expected at 20% but down from preceding data of 25.3% according to new data.
Nikkei's upper Bollinger Band® is at 28,453 which indicates a further downward move may follow. In contrast, the Nikkei could begin to recover as it approaches significant support, now 79.93 points away from 27,972. Dipping below could be an indication that further losses are ahead.
Following today's unexpected losses, extensive multifactorial technical analysis forecasts the Nikkei to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the the Nikkei is expected to attract significant bearish sentiment in the coming days.
In the meantime, negative performances are also seen in other markets, EuroSTOXX falls 3.51% today and closed at 3,975.26. DAX is down to 14,000, losing 460.2 points, after ending the previous session around 14,460. CAC lost 3.09% today and closed at 6,730.79.
Furthermore, Japan Services PMI is expected tomorrow at 00:30 UTC. Japan CFTC JPY speculative net positions is expected tomorrow at 20:30 UTC.
The Nikkei hit a significant low of 15.42 around 2 months ago, but has since recovered 182,500%.