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Nikkei seems poised to correct from 3-month high

FXStreet (Córdoba) - The Nikkei 225 rose sharply on Thursday, gaining 210 points or 1.07% to 19.859.81, marking its highest closing level since Aug 20, tracking Wall Street gains as investors digested the release of the Federal Reserve's October meeting minutes.

Nikkei technical view

The index corrected a tad lower after the close and is headed to open around 19,830 while the daily chart shows indicators correcting lower following yesterday’s steep advance. In the 4 hours chart, the index trades above its moving averages, but indicators are crossing midlines upside-down, also favoring a deeper correction ahead of another leg-higher.

Support levels: 19,763 19,685 19,639 Resistance levels: 19,942 20,038 20,140

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