Starting with the weekly, things are pretty simple. A nice class A divergence has allready decreased the Nikkei a lot, but I believe there's more downward movement to come. We are in a transitional market, I explained on the chart why with the use of EMAs.
Moving on to the daily, where price action gives us more hints... Around 15000 there was a strong a while back, which, after being broken acted as support, but this time it was broken quickly. Now the Nikkei is at the same zone, again 15000 acting as resistance. A has formed yesterday. Another way to loot at the chart is through the trendine, which was broken around 15000, and now it is getting retested at 15000. Same level everywhere, 15000. Over this psychological level, a small formed being the multi anual top. This pattern was confirmed my the breakdown of the 15000 support, and the pattern was completed at 14000. Looking at the bigger picture, we can spot another , with two left shoulders, its target being aroung 12000.
In conclusion, we have weekly divergence, transitional weekly market, broken support retest, daily retest, , possible . Taking into account all this information, I think a bet on the short side is very good, risking about 200 points for a gain of minimum 1000, in the first place.