Don't Ignore This Chart!

Nikkei Breaks Resistance as Yen Plunges

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The Nikkei 225 ($NIKK) is getting a boost from weakness in the yen. Notice that the index broke resistance as the Yen Index ($XJY) broke support. The Nikkei benefits because a weaker Yen makes Japanese exports more competitive and this helps the overall economy.

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Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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