NIKKEI 225 Does it Again: Heads Down for the 4th Straight Day

News Releases Impacting NIKKEI 225

  • Forecasted Household Spending YoY in Japan: 3.6%. The previous number: -0.2%. (1900% difference between the two.)

The Daily View for NIKKEI 225

  • At the moment, NKY’s price is down -73.42 (-0.3%) from the day prior.
  • It’s been a feast for bears operating on the daily timeframe, as NIKKEI 225 has now gone down 4 of the past 5 days.
  • As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe.
  • The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
  • Divergence between NKY’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in NKY’s price.

Below is a daily price chart of NIKKEI 225.

NKY

Featured NIKKEI 225 Idea From TradingView

Below is a trading comment entitled EUR/JPY:DOWNTREND | FUNDAMENTAL+PRICE ACTION | SHORT SETUP đź”” you may find interesting:

EUR/JPY extends monthly resistance break above 128.00 ahead of ECBEUR/JPY challenges the one-month-old downtrend around weekly high, sidelined of late.Euro bulls expected ECB to utter plans to battle stagflation fears even as monetary policy isn’t expected to change.Nikkei 225 posts biggest jump in 19 months amid hopes of overcoming Russia-Ukraine crisis.ECB, Kyiv-Moscow talks join US CPI for February to entertain momentum traders.EUR/JPY grinds higher around weekly top, up 0.11% intraday near 128.35 heading into Thursday’s European session.In doing so, the cross-currency pair rises for the third consecutive day while keeping the previous day’s upside break of a one-month-old descending resistance line, now support.Also underpinning the bullish bias is the market’s cautious optimism over the Russia-Ukraine peace talks, as well as hopes that the European Central Bank (ECB) will soun…

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