Without any doubt the Japanese index is consolidating since its may top this year. This will ultimately lead to 2 scenarios:
1- NIKKEI is in a pattern formation, prices will test support of this triangle, following 157- ish test on SPY and the two indexes will bounce a last time before big correction September-October.
2- NIKKEI is in a simple consolidation in a consolidation pattern, breaking above 14 402 with , prices go to 17 000 at least (fibonacci level)
I believe scenario #1 is more likely, the long term analysis (20 years) of the YEN Vs. NIKKEI has a clear negative correlation, and both are bouncing from their trending channel (see chart posted below). How much prices will correct is unknown at the moment.