A quick look at yesterday: the Nikkei slid down from 27,000 to 26,900, taking a 100 points loss (0.43%)
Amid the market gloom, Japan CFTC JPY speculative net positions released yesterday at 19:30 UTC with a figure of -94,300, while the previous figure was -77,400.
Nikkei made an initial break below its 5 day Simple Moving Average at 26,900, a possible indication of a forthcoming negative trend. In contrast, the Nikkei could begin to recover as it approaches significant support, now 45.73 points away from 26,845. Dipping below could be an indication that further losses are ahead.
Several technical indicators are adding weight to the bearish momentum seen yesterday and forecasting the Nikkei to extend its recent losses.
Other assets are showing positive performances as Dow Jones rallies 2.47% yesterday and closed at 30,334. S&P 500 went up by 2.37% yesterday, and closed at 3,752.75. Nasdaq went up by 2.31% yesterday, and closed at 10,860.
After hitting an important low of 15.42 approximately a month ago, the Nikkei has bounced back 175,042% since.