Nikkei will no longer rise in dollar terms. On the above chart we can see a very significant resistance from a slowly falling channel started in mid nineties.
So the question for Nikkei/JPY and Yen itself is whether Japanese central bank will go Venezuelan (or Zimbabwen) or will they halt its poisonous experiment. I bet on the second - in my opinion we can expect...
The Nikkei 225, D (NYI) is due for a pullback with all major indicators already exiting overbought condition.
Last week's advance is beginning to show signs of a reversal as investors move to take profits. Short Nikkei 225, D, (NYI). Stop loss at 17570, take profit at 16120.
Japanese authorities surprised everyone on Friday by increasing their already aggressive bond purchases (QE) by a third. In addition, it will expand those purchases to include stocks and real estate investments. The Japanese pension fund also announced that it will increase its allocation to domestic and foreign stocks. That gave a huge boost to global stocks. The...
Currently Nikkei is at resistance of a f5 and a level in which was previously retested in line chart.
It was also halted at the channel trendline.
A successful test at h1 will be meaningful but unfortunately I do not have access to h1 charts for futures.
However this can be translated to other JPY crosses and I also see similar distribution patterns on these crosses.
'On last Thursday, Kuroda met with Prime Minister Shinzo Abe and assured him that he would do more if needed, especially if the BOJ is still failing to meet its 2 percent inflation target.
"Should conditions emerge where the target becomes difficult to meet, we are ready to make without hesitation adjustments to policy, additional easing or whatever," Kuroda told...
This chart and my conclusion based on my analysis might be very perplexing to many Fundamental Analysts and to Japan's Prime Minster Abe as net results of his 3 prong attack fails to produce desired results.
Many, bullish fund managers will be mystified as was the case in 1992 when the initial decline of all time high was only seen as just a setback and a buying...
My earlier forecast :Nikkei Futures: Failure to hold above the major resistance area around 15450 threatens for a new bearish wave, probably we may see the price head towards the bottom of the sideways range once more. Note the bearish divergence on MACD as well.
Update: The price reached below my first target for previous analysis(see related link below), but...
Nikkei Futures: Failure to hold above the major resistance area around 15450 threatens for a new bearish wave, probably we may see the price head towards the bottom of the sideways range once more. Note the bearish divergence on MACD as well.
The chart explains it-self, with targets and risk limit outlined on it.
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I'm still bearish Nikkei (NYU2014) and I'm waiting for the MM top to complete. A trade below 15035 would trigger my short. Again in this type of pattern the drop has to be fast otherwise it is a waste of time and money.Target to be adjusted depending on momentum.
An update to an idea of LEONES . Can't deny the trend is there. And CCI seem to diverge from the price action again. But as timwest notes - when it becomes too obvious, it may start to do the opposite? RSI follows the price and has room to make another run up - enough to break the trend.
I'm bearish Nikkei and I'm waiting for the M top to complete. A trade below 15055 would trigger my short. Again in this type of pattern the drop has to be fast otherwise it is a waste of time.
Our outlook remains lower on GBPJPY as we look for it to weaken further on the back of its Friday decline. We are looking to enter at 174.99 with stop around the 175.75 while price target is at 174.00
Nothing complicated here. Looks like a very basic retrace and now time for another leg down. Break below the 50% level and maybe headed back under 15000 to start.
