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NIKKEI 225 Daily (13.07.2014) Technical Analysis Training

FX:JPN225   Nikkei 225 index of Japanese listed shares
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The NIKKEI 225             Japan Index ( JPN225             ) Daily Diagram Technical Analysis Training shows the following:

The JPN225             index has made a decline above the KUMO cloud last week under the Tenkan Sen (light green line) and Kijun Sen (blue line). Now the Index has breached the support lines and has reacted and stopped exactly on the Kijun Sen and 1 of fib. The weekly diagram is bullish but w/divergence and monthly diagram is bearish .

So the first think in mind for Monday is the case of a reaction above the Kijun Sen (blue line) or a decline towards to 14893 first. MACD is bearish w/divergence and RSI is exactly on 50.

We have no special candlestick pattern. The index is above the KUMO, but it is under the Tenkan Sen & Kijun Sen too.

There is no special pattern except of double top @15461. The fib from 13953 to 15180 shows resistance at current level (fib & Kijun Sen too). If the Index declines from here the next target is the 0.764 of fib (14893).

So the divergence of MACD and the fib+Kijun Sen resistance says short. Stay aside. If the index is bullish on Monday (on close) then long, if it declines then short. Do not forget to consider the red line resistance.
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