NIKKEI 225 (NKY) Down 0.72%, in an Uptrend Over Past 14 Days; Doji and Pin Bar Patterns Appearing on Chart

The Hourly View for NKY

Last Updated February 23, 2021, 00:019 GMT

At the moment, NIKKEI 225’s price is down -75.01 (-0.25%) 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. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them so that price is now turning below it. 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

NIKKEI 225 came into today down 0.72% (218.17) from the open of the day prior, marking the 3rd day in a row a decline has happened. Out of the 14 instruments in the equity indices asset class, NIKKEI 225 ended up ranking 12th for the day in terms of price change relative to the day prior. Below is a daily price chart of NIKKEI 225.

NKY

NIKKEI 225 Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 18 out of the past 30 days. As for those who trade off of candlesticks, we should note that we’re seeing doji and pin bar patterns appearing here.