The Nikkei average was down ¥190 at the open and has remained range-bound since then. The market is watching developments in yesterday's U.S. stock market, Nvidia's earnings and the speech by the Fed chair.
The Nikkei average was down ¥190 at the open, and as of 9:05 a.m., the market was leading with losses in the day's trading. Although major indexes rose in yesterday's U.S. stock market, buying was restrained as the 25-day moving average and the 75-day line were seen as resistance levels. Selling prevailed after the open, and the Nikkei subsequently remained range-bound.
The Nikkei's movement after the open has been limited to range-bound trading, with no major short-term price moves. While some market participants see downside as supported in response to developments in yesterday's U.S. market and movements in crude oil futures, the direction at current levels remains unclear.
The factors behind this include sentiment ahead of developments in the U.S. market and Nvidia's earnings announcement, as well as caution ahead of a speech by the Fed chair. It has also been reported that lower crude oil prices and declining long-term interest rates in overseas markets may be creating a sense of reassurance.