NIKKEI 225 (NKY) Moves Down For the 3rd Day In A Row; Breaks Below 50 Day Average

The Hourly View for NKY

Last Updated June 21, 2021, 01:010 GMT

Currently, NKY’s price is down -864.47 (-2.97%) from the hour prior. This is the 3rd hour in a row NKY has seen its price head down. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 100 and 200 hour moving averages, resulting in them with price now being below them. 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 0.19% (54.25) from the open of the previous day, marking the 3rd day in a row it has gone down. Relative to other instruments in the equity indices asset class, NIKKEI 225 ranked 7th since the previous day in terms of percentage price change. Here is a daily price chart of NIKKEI 225.

NKY

NIKKEI 225 Technical Analysis

First things first: NIKKEI 225 crossed below its 50 day moving average yesterday. Volatility for NIKKEI 225 has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone down 6 out of the past 10 days.