The Nikkei 225, the major stock market index for the Tokyo Stock Exchange (TSE), closed this Friday’s trading session at 9,179.38 with a 1.96% decline. The chart of the Nikkei index has been moving sideways for a year now and could continue to head this direction until breaks from major levels take place. In case the index drops below the 9,000.00 support, the next support could be 8,493.77. If that price mark gets breached further, the next support could be 8,084.62. On the upside, the immediate resistance is the 4-month downtrend. If that gets cleared out, the next resistance could be 9,807.36 then the psychological resistance at 10,000.00.
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