Japan has been forming lower highs since 1991 which the next one I believe has just formed, as it did not break the last high. A has formed on the last potential lower high which shows indecision in the market after a move since 08/2012. After the was formed a candle is potentially forming.
If you go onto the daily time frame you will see a forming which is just waiting for a move over the neckline to confirm it, which target one has been stated at 16,528, which there is a past resistance/support on/around this level. This is just a target from the , on the monthly time frame which you are currently looking at, a much larger potential move is expected. The , if formed would then be seen as confluence.
is also showing this to be overbought with a crossover which occurred on the last candle, and if you look at the past lower highs you will see that they were all in overbought condition's which were followed by crossovers.
- Lower Highs
- forming on the daily time frame
- formed on potential lower high