NIKKEI 225 (NKY) 4 Day Down Streak Ended; in an Uptrend Over Past 90 Days

The Hourly View for NKY

Last Updated March 26, 2021, 01:018 GMT

Currently, NIKKEI 225’s price is up 294.92 (1.03%) from the hour prior. NIKKEI 225 has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. 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 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. With that said, traders should also note the downtrend on the 20 hourly candle timeframe, so the meaning of the candles may require further exploration. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, so that price is now turning above it. 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

NIKKEI 225 is up 1.14% (324.36) since the day prior, marking a reversal from the day prior — and the end of a 4 day negative run. Relative to other instruments in the equity indices asset class, NIKKEI 225 ranked 2nd since the day prior in terms of percentage price change. Below is a daily price chart of NIKKEI 225.

NKY

NIKKEI 225 Technical Analysis

The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 30 day timeframe. This may setup an interesting opportunity for traders looking to buy dips in anticipation of the primary trend resuming. For another vantage point, consider that NIKKEI 225’s price has gone up 5 of the previous 10 trading days.