Nikkei Average Technicals: Sharp rebound, breaks above ¥70,000 as 13-week moving average turns upward

The story

The Nikkei 225 staged a sharp rebound, standing at 69,946.86 as of 15:30, up 1,637.40 from the previous day, marking a sharp advance rather than a rise of only around 0.03%.

Buying momentum was evident in the market, and the Nikkei 225 reached a point where it broke above 70,000. This reportedly caused the 13-week moving average, a technical indicator, to turn upward.

At a glance

LevelThe Nikkei 225 stood at 69,946.86, up 1,637.40 as of 15:30

OutlookThe Nikkei 225 staged a sharp rebound, breaking above 70,000

IndicatorsThe Nikkei 225's 13-week moving average turned upward

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