Japan’s Motegi: Economy has sound fundamentals

Dhwani Mehta FXStreet

Japanese Economy Minister Motegi crossed the wires earlier today, responding to some questions on the recent drop in stock prices.

When asked about the fall in Japanese stock prices, Motegi noted that the economy has sound fundamentals. This comes after the Japanese benchmark index, the Nikkei 225, fell 3% on Monday amid growing US recession fears.

At the press time, the Nikkei 225 index rebounds +1.80% to trade near 21,360 points.

Nikkei 225 Technical Levels

Nikkei 225

Overview
Today last price	21350
Today Daily Change	225.00
Today Daily Change %	1.07
Today daily open	21125

Trends
Daily SMA20	21429
Daily SMA50	21134
Daily SMA100	21069.62
Daily SMA200	21885.83

Levels
Previous Daily High	21145
Previous Daily Low	20895
Previous Weekly High	21680
Previous Weekly Low	21115
Previous Monthly High	21645
Previous Monthly Low	20185
Daily Fibonacci 38.2%	21049.5
Daily Fibonacci 61.8%	20990.5
Daily Pivot Point S1	20965
Daily Pivot Point S2	20805
Daily Pivot Point S3	20715
Daily Pivot Point R1	21215
Daily Pivot Point R2	21305
Daily Pivot Point R3	21465

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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