Japan's NKD trying to hold at near-term support...

Japan's Nikkei 225 Futures Index (NKD) is trying to hold at near-term confluence support (see Daily chart below) after a Moody's downgrade of its governments debt by one notch to Aa3 today..."blaming a build-up of debt since the 2009 global recession and revolving-door political leadership that has hampered effective economic strategies"...see Reuter's full article for details:  http://www.reuters.com/article/2011/08/24/us-japan-rating-idUSTRE77N01620110824?feedType=nl&feedName=usbeforethebell

As I mentioned in last Saturday's post, should the NKD continue down, the next support level is around 8200.