Technical Analysis:
Currently trading around 38200 price is trying to get out of this range where its been 2 days for price now. JP225 is on a good support cleared all the resistance levels upside and we might see good up-move from here.As soon as we get a structure shift on smaller time frame we can go for buying by keeping SL below our last swing.
Fundamentals:
Japan's Nikkei share average drifted sideways in a narrow range on Tuesday as investors braced for more local corporate earnings results and the release of all-important U.S. inflation figures the following day.
The market was also cautious over a weakening currency and rising domestic bond yields amid speculation that the Bank of Japan could soon take additional policy tightening steps.
The Nikkei NI225 entered the midday recess up 0.05% at 38,199.10, with 102 of its 225 components rising versus 123 that fell. The broader Topix TOPIX eased 0.04%.
Earnings produced some standout winners and losers, including heavyweight startup investor SoftBank Group 9984, which added 1.78% to be among the Nikkei's biggest supports on the day.
Furukawa Electric 5801 surged almost 19% to pace advancers after reporting financial results, while chemical company Tosoh Corp 4042 led decliners with a 7.25% slide.
Sony Group 6758 was up 0.38% ahead of its earnings announcement due later in the day.
"There are a lot of individual drivers, but unfortunately none that give an overall direction to the market," said Kazuo Kamitani, an equities strategist at Nomura Securities.
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