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Nikkei falls despite a weak yen

FXStreet (Mumbai) - Japanese equity markets fell today tracking the overnight losses in the US Equity markets. The equity markets weakened despite the USD/JPY exchange rate hovering near 107.00 levels.

The Nikkei eded the day 0.37% lower at 15,138 levels. The losses were driven by energy shares which tanked due to renewed signs of weakness in the Crude oil prices. Those shares, which are sensitive to Crude prices, weakened. Mitsuit and Co. lost 1.12%, while Marubeni fell 0.08%. Unitka ltd. was the biggest loser of the day with the losses of 4.26%. Moreover, the index breadth was negative with the advance decline ratio of 82:36.

Meanwhile, a slightly weaker yen failed to provide any respite to the equity markets. Exporter shares traded more or less flat.

Nikkei Technical levels

The index has an immediate resistance of 15,229, above which it can rise to 15,343 levels. On the other hand, prices may fall to 15,000 levels if the immediate support of 15,111 is breached.

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