kew20
Long

NKY: Long

INDEX:NKY   Nikkei 225 Index
68 1 2
Although the overall trend is bearish (observe to downward sloping black W1 TL), this index seems to be in a counter-trend ascending channel (or rather, forming a Bearish Flag ). From the inherent inverse correlation with the Japanese Yen             , I expect to see all XXX/JPY rally higher as the Yen weakens. Upon a break and close beneath this channel (lime), I expect to see the JPY regain its strength and thus all XXX/JPY resume their plummet downwards.

Related Ideas

I think a ''bearish flag’’ is more probable, as NIKKEI is more vulnerable than other stock markets, regarding the Chinese earthquakes that are not finished yet.. :)
All the expected upward recoveries seem to be suppressed -more or less- by the overall tendency for a long time..

Have a nice week ;)
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