Is Momentum Changing for NIKKEI 225? Price Just Crossed Below Its 200 Day Moving Average

The Hourly View for NIKKEI 225

  • Currently, NKY’s price is up 44.9 (0.16%) from the hour prior.
  • This is a reversal of the price action on the previous hour, in which price moved down.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
  • Price action traders may also wish to note that we see a doji candlestick pattern on NIKKEI 225. Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

NIKKEI 225’s hourly price chart is shown below.

NKY

The Daily View for NIKKEI 225

  • At the moment, NKY’s price is up 182.36 (0.65%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as NIKKEI 225 has now gone up 4 of the past 5 days.
  • Regarding the trend, note that the strongest trend exists on the 100 day timeframe.
  • Price action traders may also wish to note that we see some doji and pin bar candlestick patterns on NIKKEI 225. Given that we see an uptrend on the 5 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • Regarding moving averages, it should first be noted that price has crossed the 200 day moving average, resulting in them with price now being above it. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Below is a daily price chart of NIKKEI 225.

NKY