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Nikkei 225 takes a hit as calls for Japanese rate hike intensify
Today the slide in the USD/JPY (which has now fallen further) has really weighed on the Nikkei 225. The index has fallen to close below 40k today and so far it looks like being the worst performing Asian index. The Chinese markets are still trading though and all in the red as I write this update. What this sharp drop in the Nikkei has done it to form a significant outside day reversal from a record all time high at 40,472 reached earlier today. If you look at a chart of that you will see exactly what I am talking about here. This is a negative reversal and it could herald the top for the index for the immediate future. The index has just now closed at 39,958.
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