Crazy week for the Yen, but the Japanese stock index held within range. Crurently looks like a wave (4) in progress, looking for wave (5) to start. The 5 wave impulse would complete leg C of the correction.
If it falls through the 18,500 zone, then it could be quick trip to next zone below. If it does fall through the first support, I will analyze that move and post a new Idea.
Background: I trade mostly Forex and Crypto, but I watch the stock indices for risk sentiment.
I started following the Nikkei in Octo 2018
Then tracked a temporary botttom. My support zone was off by one increment, but the resistance zone proved valid
As the bounce progressed, I could see a 5 wave impulse starting and got that about right
Nice analysis. Note that in this C wave, wave 2 was short and sharp, so the rule of alternation suggests that wave 4 should be long and flat. W4 might be trying to form a sideways triangle or a flat, in which case time will be needed for W4 to complete.