NIKKEI 225 (NKY) Up 0.12%; Pin Bar Pattern Appearing on Chart

The Hourly View for NKY

Last Updated April 8, 2021, 03:018 GMT

Currently, NIKKEI 225’s price is up 50.01 (0.17%) from the hour prior. The hourly chart shows that NIKKEI 225 has seen 2 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 50 hour moving average has been crossed, with price now being above 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

29730.79 was the closing price of the day for NIKKEI 225, resulting in today being one in which price moved up 0.12% ($34.16) from the previous day. Relative to other instruments in the equity indices asset class, NIKKEI 225 ranked 6th since the previous day in terms of percentage price change. Here 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 90 day horizon; over that time period, price has been moving up. For another vantage point, consider that NIKKEI 225’s price has gone up 8 of the previous 14 trading days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.