NIKKEI 225 (NKY) Moves Down For the 3rd Day In A Row, in an Uptrend Over Past 90 Days; Pin Bar Pattern Appearing on Chart

The Hourly View for NKY

Last Updated January 6, 2021, 02:019 GMT

At the moment, NIKKEI 225’s price is down -125.11 (-0.46%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. 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 is down 0.37% (99.75) since the previous day, marking the 3rd day in a row a decrease has occurred. Out of the 14 instruments in the equity indices asset class, NIKKEI 225 ended up ranking 11th 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

The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone down 6 out of the past 10 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!