NIKKEI 225 (NKY) Down 0.45%; in an Uptrend Over Past 90 Days

The Hourly View for NKY

Last Updated January 1, 2021, 03:019 GMT

At the moment, NIKKEI 225’s price is up 10.01 (0.04%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as NIKKEI 225 has now gone up 12 of the past 14 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on NIKKEI 225. Given that we see an uptrend on the 20 and 5 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 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.

NIKKEI 225 Daily Price Recap

The choppiness in the recent daily price action of NIKKEI 225 continues; to start today, it came in at a price of 27444.17 US dollars, down 0.45% (123.98) since the previous day. Out of the 14 instruments in the equity indices asset class, NIKKEI 225 ended up ranking 9th for the day in terms of price change relative to the previous day. The daily price chart of NIKKEI 225 below illustrates.

NKY

NIKKEI 225 Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to view things another way, note that out of the past 30 days NIKKEI 225’s price has gone up 15 them.