Nikkei touches the highest since March 6, then backs off | Forexlive

Japanese stocks have fallen to unchanged on the session after climbing 0.4% at the open. The early high was the best level since March 6 but if you zoom out, the index is wound tight. It’s chopped around this range for 16 months and a slightly higher range for a year before that. We’re up near the top of it now and it’s time to make a break or finally crumble.

So far this year, Japan’s economy has been the most-disappointing major economy relative to what expectations were on January 1. Last week, the IMF lowered Japan’s 2023 GDP forecast to 1.3% from 1.8%.