NIKKEI 225 (NKY) Up 0.71%; Breaks Above 20 Day Average

The Hourly View for NKY

Last Updated March 30, 2021, 23:18 GMT

At the moment, NIKKEI 225’s price is up 25.02 (0.09%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a doji 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. Of note is that the 200 hour changed directions on NKY; it is now pointing up. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

NIKKEI 225 Daily Price Recap

NIKKEI 225 is up 0.71% (207.82) since yesterday, marking the 3rd straight day an increase has occurred. Out of the 14 instruments in the equity indices asset class, NIKKEI 225 ended up ranking 2nd for the day in terms of price change relative to yesterday. The daily price chart of NIKKEI 225 below illustrates.

NKY

NIKKEI 225 Technical Analysis

Notably, NIKKEI 225 crossed above its 20 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Traders will also want to note, though, that a counter trend — meaning a trend going down — can be seen on the 30 day timeframe. So if you expect the primary trend to resume, the counter trend may be providing an opportunity to buy dips. For additional context, note that price has gone up 5 out of the past 10 days.