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Nikkei gains on a weaker Yen

FXStreet (Mumbai) - Japanese equity index, Nikkei, rose to its highest level in eight days supported by the rise in the USD/JPY exchange rate.

The Nikkei ended the day 1.01% higher at 15,291.64 levels. Moreover, the index pared gains after opening at 15,369 levels on concerns of an Ebola epidemic. For the week, the index has gained 5.2%, ending the three-week declining trend.

Among stocks, Toho Zinc Co. gained 5.56%, while Fujifilm, which makes the Avigan drug that potentially cures the Ebola virus rose 2.5%. The index breadth was positive with an advance decline ratio of 189:35. The USD/JPY exchange rate rose above 108.00 levels yesterday, which supported the exporter stocks. Toyota Motor Corp rose 1.8%, while Tokyo Electron Ltd rose 1.2%.

Nikkei Technical levels

The index has an immediate resistance of 15,356 levels, above which prices can rise to 15,461 levels. On the other hand, the index can fall to 15,100 levels if the immediate support of 15,200 is breached.

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