NIKKEI 225 Trend May Be Changing as Price Just Breached Above Its 200 Day Moving Average

The Hourly View for NIKKEI 225

  • Currently, NKY’s price is up 70.01 (0.25%) from the hour prior.
  • This move is a reversal from the hour prior, which saw price move down.
  • 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 20 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.
  • Divergence between NKY’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in NKY’s price.
  • https://storage.googleapis.com/sjn-charts/oneaidmts/NKY-1627529142.0987.png

NIKKEI 225’s hourly price chart is shown below.

NKY

The Daily View for NIKKEI 225

  • At the time of this writing, NKY’s price is down -388.56 (-1.39%) from the day prior.
  • This move is a reversal from the day prior, which saw price move up.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe.
  • Regarding moving averages, it should first be noted that price has crossed the 200 day moving average, resulting in them so that price is now turning below it. The moving averages on the daily 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.
  • Divergence between NKY’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in NKY’s price.
  • https://storage.googleapis.com/sjn-charts/oneaidmts/NKY-1627529150.59696.png

Below is a daily price chart of NIKKEI 225.

NKY