The Nikkei 225 closed at 59,804 (-1.23%) as market sentiment turned cautious amid global economic uncertainties. The index experienced a day range of 59,292 to 60,567, reflecting volatility as it faced resistance near the 60,000 mark, which has been a psychological barrier for investors.

From a technical standpoint, the Nikkei remains below its 20-day simple moving average (SMA) of 60,678, suggesting short-term bearish momentum, while it holds above the 50-day SMA of 56,911, indicating a longer-term bullish trend. The relative strength index (RSI) at 50.4 reflects a neutral market condition, indicating indecision among traders. The index is currently trading within a 52-week range of 48,626 to 63,272, further emphasizing the potential for significant price swings in either direction.

Looking ahead, key levels to watch include the psychological 60,000 threshold and the support level at 59,292. A sustained move above 60,000 could signal a shift in momentum, while a drop below 59,292 may prompt further selling pressure.