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Nikkei 225 slides further below 40k as Chinese stocks rebound

Following on from the previous update covering the USD/JPY, there has been some quite dramatic and contrasting moves across the Asian stock markets today. The Chinese markets are all in the green this morning, where the Japanese markets have headed sharply in the opposite direction. The Nikkei has slumped by more than 2% today and fallen further below 40k. The index had closed on Friday at 39,688. The low seen today has been set at 38,496. The fall in the Nikkei helped to send the USD/JPY down to test the lows seen on Friday. However, the USD/JPY has not traded to a new interim low. The low so far today has been set at 146.54 and it has rebounded somewhat into the European opening. The Nikkei 225 has just closed at 38,820, with a loss of 868 points on the session. The noted USD/JPY 200 day moving average is still rising and in place today at 146.22. The Nikkei futures are a little lower now and that is stopping the USD/JPY around that 147 level as the European markets reopen shortly 

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