The Nikkei Average declined for the first time in 3 sessions but remained around the ¥68,2... level, down ¥647.26 from the previous day, while breaking above the resistance zone without falling below the 75-day moving average.
The Nikkei Average declined for the first time in 3 sessions on the 2nd. It traded at a closing level of ¥68,309.46, down ¥647.26 from the previous day. It broke above the resistance zone without falling below the 75-day moving average, which had formed resistance on the upside, at ¥66,764.87. The candlestick approached a doji pattern, indicating a balance between buying and selling, leaving the market at a point where its short-term direction needed to be assessed.
The Nikkei Average was 4.24% above the 25-day moving average, below the 5% overheating threshold, prompting the view that the uptrend could continue next week.