NIKKEI 225 (NKY) 2 Day Up Streak Snapped, Crosses 50 and 100 Day Moving Averages; in an Uptrend Over Past 14 Days

The Hourly View for NKY

Last Updated June 7, 2021, 17:18 GMT

At the moment, NIKKEI 225’s price is down -34.99 (-0.12%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. 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 Daily Price Recap

The back and forth price flow continues for NIKKEI 225, which started today off at 28941.52 US dollars, down 0.4% (116.59) from yesterday. Relative to other instruments in the equity indices asset class, NIKKEI 225 ranked 13th since yesterday in terms of percentage price change. Let’s take a look at the daily price chart of NIKKEI 225.

NKY

NIKKEI 225 Technical Analysis

First things first: NIKKEI 225 crossed below its 50 and 100 day moving averages yesterday. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 9 out of the past 14 days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.