NIKKEI 225 (NKY) 4 Day Down Streak Ended; in an Uptrend Over Past 14 Days

The Hourly View for NKY

Last Updated January 8, 2021, 02:019 GMT

At the moment, NIKKEI 225’s price is down -6.01 (-0.02%) 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 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 10 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

NIKKEI 225 is up 1.6% (434.19) since yesterday, 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 3rd since yesterday in terms of percentage price change. 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 another vantage point, consider that NIKKEI 225’s price has gone up 5 of the previous 10 trading days.