Alright friends. What we have here is perfection in terms of alignment. Forget the Yen. Follow the Nikkei 225. First of all, they historically have an extremely high positive correlation (.92 in the past month which is completely normal for the two assets), therefore, it's likely both will follow the other (not necessarily, but LIKELY).
Let's move on. The goal here is to buy in the 17000's. Hopefully, we see a retracement at the .618 level post intraday breakdown (as shown above) and we move lower in the next few days or week. Below is the long-term projection to be aware of. If we see a break above the yellow, we could see a major alignment failure for a correction. Because this would be categorised as unlikely, it would be a major breakout. Either way, the long-term direction is up. Will repeat. Buy in the 17,000s. Good luck with execution.
Daily Patterns:
Monthly Patterns:
Previous analysis:
Let's move on. The goal here is to buy in the 17000's. Hopefully, we see a retracement at the .618 level post intraday breakdown (as shown above) and we move lower in the next few days or week. Below is the long-term projection to be aware of. If we see a break above the yellow, we could see a major alignment failure for a correction. Because this would be categorised as unlikely, it would be a major breakout. Either way, the long-term direction is up. Will repeat. Buy in the 17,000s. Good luck with execution.
Daily Patterns:
Monthly Patterns:
Previous analysis:
Comment:
Looking at a possible breakout to the upside.
