The Nikkei gets off to a bad start this session by dropping 0.69% and trading at 27,700.
The MACD is significantly below its signal line which suggests that the existing bearish sentiment is beginning to swing around toward a more bullish outlook. The Nikkei's lower Bollinger Band® is at 27,639, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
Overall, looking at the technical analysis landscape, although technical indicators are mixed and pointing in different directions, it seems the Nikkei is set to appreciate despite today's setback.
In the meantime, negative performances are also seen in other markets, S&P 500 is down to 3,941.26, losing 57.74 points, after closing at 3,999 in the preceding trading session. After ending yesterday's session at 11,240, Nasdaq lost 239.94 points and is trading around 11,000. Dow Jones is down 347.1 points from the beginning of the session and now trades around 33,600.
Furthermore, Japan GDP figure is projected at -0.3. It previously stood at -0.3; data will be released today at 23:50 UTC. Japan Adjusted Current Account is scheduled for today at 23:50 UTC. Japan Current Account n.s.a. (Oct) scheduled to come out today at 23:50 UTC.
Trading mostly sideways for a month. The Nikkei hit a significant low of 15.42 around 2 months ago, but has since recovered 180,742%.