August 09, 2024 at 07:10AM
The Nikkei is ending the day up by 0.56% and on the week itself, it is down 2.46%. The latter sounds bad but it really looked like it was going to be much worse after the Monday close: Japan’s Nikkei closes down by a whopping 12% to its lowest since November last year
But a 10% rebound on Tuesday helped to alleviate much of the pain, before a relatively calmer mood in the last few sessions. The chart below shows quite a hold of the 200-week moving average (red line). And what a weekly candle as well.
This article was written by Justin Low at www.forexlive.com.
Japan’s Nikkei salvages a positive close on the day and just down over 2% on the week