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Nikkei ends at a three-week high

FXStreet (Mumbai) - The Japanese share prices rose to a level last seen on Oct 10, tracking the rise in the USD/JPY exchange rate. Meanwhile, optimism regarding the health of the US economy as expressed by the Federal Reserve statement also helped stock prices gain strength.

The Nikkei finished the day 0.67% higher at 15,658.20 levels. Moreover, the Nikkei has recovered from a five-month low hit on Oct 17 on optimism that the US economy is recovering. The index breadth was positive with an advance decline ratio of 150:71.

Meanwhile, Japanese video game maker Nintendo rose 7.7% to a four-week high after it reported an unexpected quarterly operating profit. On the other hand, Yahoo Japan Corp tumbled 7.0% after the company lowered its operating forecast for Oct-Dec quarter.

Nikkei Technical levels

The index has an immediate support at 15,628 levels below which the prices may re-test 15,500 levels. On the flip side, resistance is seen at 15,759 and 15,829 levels.

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