Japan’s Nikkei 225 index falls near -1.00% at the open

Japan’s Nikkei is trading down -0.91% at 38019.

Looking at the daily chart, the price is below is 100-day moving average at 38637.55, but above its 200-day moving average below at 37233.10 (blue and green lines respectively). The last 7 – trading days has seen the price settle between those key MA levels.

With five more days of trading for the month, the price is still down -2.86% for the month. That is the bad news, but recall the low price for the Nikkei reached 31123.10. So the price is up some 22.25% from that low.

The high price for the month reached 38781.56 back on the first trading day of the month before it’s tumble on the exiting of the so-called carry trade.

Australia’s S&P/ASX 200 index is near unchanged in early trading

This article was written by Greg Michalowski at www.forexlive.com.