Dow and Nasdaq 100 rise but Nikkei 225 hits a speed bump
US indices continue their recovery from recent lows, but the Nikkei 225 has been hit by volatility in the yen.
Dow back above 100-day moving average
The index continues to recover from last week’s low and managed to move above Friday’s high in Monday’s trading.
Additional gains target last week’s high around 38,600, and then on to the 50-day simple moving average (SMA), currently 38,780. Beyond this lies 39,000, and then to the March highs at 40,000.
Sellers will need a close below Friday’s low at 37,750 to suggest a retest of the April low.
Nasdaq 100 hits two-week high
This index continues to rally despite the ups and downs of Big Tech’s moment in the earnings season spotlight.
The price action continues to lean bullish, with a fresh high on Monday maintaining the bounce from the low of mid-April. Additional gains above 17,800 open the way to the 50-day SMA and then on to the highs of March and April around 18,350.
Sellers will need a close back below 17,300 to suggest another retest of the 17,000 lows of mid-month.
Nikkei 225 struggles on yen volatility
A resurgent yen has hit the Nikkei 225, knocking it back from its highs of the session on Monday.
While the bounce from the lows of April around 37,000 is still intact, buyers will need a revival above 38,300 to put them back in charge.
A close back below the 100-day SMA (currently 38,031), might raise the prospect of a renewed push back to 37,000.
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