NIKKEI 225 (NKY) Heads Up For the 4th Straight Day; in an Uptrend Over Past 30 Days

The Hourly View for NKY

Last Updated February 12, 2021, 18:19 GMT

At the time of this writing, NIKKEI 225’s price is up 5 (0.02%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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 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 closed the day prior up 0.19% (57); this denotes the 4th straight day an increase has occurred. Relative to other instruments in the equity indices asset class, NIKKEI 225 ranked 7th since the day prior in terms of percentage price change. The daily price chart of NIKKEI 225 below illustrates.

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 18 of the previous 30 trading days.