NIKKEI Elliott Wave Analysis for Friday 27/10/2023In the higher time frame, the primary expectation is that wave (4) is not finished yet. The price action we are seeing after the WXY structure still looks corrective which makes us call for a triple three or WXYXZ structure. In the lower time frame, we have two equally valid scenarios. The wave Z has started and can unfold as either a WXY or ABC structure.
Nikkei 225 JPN225 CFD
NIKKEI Elliott Wave Analysis for Thursday 26/10/2023In the higher time frame, the primary expectation is that wave (4) is not finished yet. The price action we are seeing after the WXY structure still looks corrective which makes us call for a triple three or WXYXZ structure. In the lower time frame, we have two equally valid scenarios. The way down as a wave Z could have been started. However, we favor the scenario where we first see upside to finish wave X, followed by the wave Z down.
NIKKEI Elliott Wave Analysis for Wednesday 25/10/2023In the higher time frame, the primary expectation is that wave (4) is not finished yet. The price action we are seeing after the WXY structure still looks corrective which makes us call for a triple three or WXYXZ structure. In the lower time frame, we have two equally valid scenarios. The way down as a wave Z could have been started. However, we favor the scenario where we first see upside to finish wave X, followed by the wave Z down.
NIKKEI Elliott Wave Analysis for Tuesday 24/10/2023In the higher time frame, the primary expectation is that wave (4) is not finished yet. The price action we are seeing after the WXY structure still looks corrective which makes us call for a triple three or WXYXZ structure. In the lower time frame, we have two equally valid scenarios. The way down as a wave Z could have been started. However, we favor the scenario where we first see upside to finish wave X, followed by the wave Z down.
NIKKEI Elliott Wave Analysis for Friday 20/10/2023 (+ Higher TF)In the higher time frame, the primary expectation is that wave (4) is not finished yet. The price action we are seeing after the WXY structure still looks corrective which makes us call for a triple three or WXYXZ structure. In the lower time frame, we have two equally valid scenarios. The way down as a wave Z could have been started. However, we favor the scenario where we first see upside to finish wave X, followed by the wave Z down.
NIKKEI Elliott Wave Analysis for Tuesday 17/10/2023In the higher time frame, the primary expectation is that wave (4) has finished after a WXY correction. We had a strong reaction from the reversal areas. However, in the lower time frame, we are missing one more swing up to identify an impulse and the potential start of wave (5). If we do not get the additional swing up, we might still have further corrective price action as a wave (4).
NIKKEI Elliott Wave Analysis for Monday 16/10/2023 (+ Higher TF)In the higher time frame, the primary expectation is that wave (4) has finished after a WXY correction. We had a strong reaction from the reversal areas. However, in the lower time frame, we are missing one more swing up to identify an impulse and the potential start of wave (5). If we do not get the additional swing up, we might still have further corrective price action as a wave (4).
NIKKEI Elliott Wave Analysis for Tuesday 10/10/2023The primary expectation is that wave (4) has finished after a WXY correction. We are in the areas from where we can reverse. We are looking at two scenarios on the lower timeframe. The first scenario identifies a complete structure. In the second scenario, two more swings are missing. A failure of both scenarios on the lower timeframe is an indication of a bearish scenario in the higher timeframe
NIKKEI Elliott Wave Analysis for Monday 09/10/2023 (+ Higher TF)The primary expectation is that wave (4) has finished after a WXY correction. We are in the areas from where we can reverse. We are looking at two scenarios on the lower timeframe. The first scenario identifies a complete structure. In the second scenario, two more swings are missing. A failure of both scenarios on the lower timeframe is an indication of a bearish scenario in the higher timeframe.
NIKKEI Elliott Wave Analysis for Friday 06/10/2023The NIKKEI is doing a wave (4) correction as a WXY. Currently, we are working on the Y leg as another wxy structure. We are in the areas from where we can reverse. We are looking at two scenarios on the lower timeframe. The first scenario identifies a complete structure. In the second scenario, two more swings are missing.
NIKKEI Elliott Wave Analysis for Thursday 05/10/2023The NIKKEI is doing a wave (4) correction as a WXY. Currently, we are working on the Y leg as another wxy structure. We are in the areas from where we can reverse. We are looking at two scenarios on the lower timeframe. The first scenario identifies a complete structure. In the second scenario, two more swings are missing.
Nikkei 225 Reaches Psychological Level at 33,000In 2023, Japan's stock market is in a bullish trend (shown by the blue channel) as the country has an ultra-loose monetary policy (unlike other G7 countries that are fighting inflation). As a result, the cheap yen helps Japanese companies, which are largely export-oriented, to develop. According to the Cabinet of Japan, GDP in the second quarter of 2023 increased by 2% compared to the same quarter of the previous year.
The growth of the Japanese stock market from the beginning of the year to today is about 28%. And on Sept. 5, the Nikkei 225 closed above the psychological 33,000 level. Yahoo Finance reports that Kenji Abe, Daiwa Securities equity strategist, predicts the Nikkei could gradually rise to 35,000 after a strong reporting season this summer.
Bearish arguments:
→ the level of 33,000 points can serve as psychological resistance. After the Doji candle on September 6 (which can be interpreted as the uncertainty of market participants in the continuation of growth), the price dropped on the morning of September 7, which confirms the weakening of demand.
→ line (1), built on the highs of summer, can provide resistance.
However, the bullish argument is that the line (1) is an element of the flag technical analysis pattern. If the pattern works, then we should expect its breakdown and the continuation of the trend in 2023. How likely this scenario is can be judged by the depth of the rollback from the line (1), which is already looming on the chart.
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JP225 to continue in a rally?NIK225 - 24h expiry
Short term momentum is bullish.
There is no indication that the rally is coming to an end.
32240 has been pivotal.
A break of the recent high at 32240 should result in a further move higher.
The primary trend remains bullish.
We look to Buy a break of 32266 (stop at 32086)
Our profit targets will be 32716 and 32816
Resistance: 32240 / 32400 / 32600
Support: 32150 / 31900 / 31750
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JPY 225 - fundamental and technical analysis - we will rise!Fundmental:
Given the Bank of Japan's decision to maintain ultra-low interest rates while adopting a more flexible yield curve control policy, coupled with positive market reactions and the potential for policy normalization, there is a strong possibility that the JPY225 index will rise in the coming days. The move indicates confidence in Japan's economic recovery, leading to increased investor interest in Japanese equities. Additionally, ongoing monetary support and higher inflation expectations could further boost the index. However, investors should remain mindful of market fluctuations and global factors that may impact the performance of the JPY225 index.
Thechincal
We are in side growing trades testing again 33050-33200 level again, probably will not enough strengh so it will be time for correction, after break strong bullish movement
Buy on dip at 50DMA in Nikkei Japanese index Nikkei 225 (NI225) is in a nice bull run since Uncle Warren loaded up on the cheap Japanese equities.
The index made a top at 33770 and has been consolidating since then for the last few weeks. Recently the index made a triple bounce at the 50 day simple moving average with the last push happening on the day of the BoJ MPC meeting decision.
The price action on the index is nicely bullish and seems to be heading toward previous highs of 33770.
Nikkei in a bullish channelNIK225 - 24h expiry - We look to Buy at 32535 (stop at 32295)
We are trading at overbought extremes.
Previous resistance level of 33068 broken.
A lower correction is expected.
Short term bias is mildly bullish.
Further upside is expected although we prefer to set longs at our bespoke support levels at 32770, resulting in improved risk/reward.
Our profit targets will be 33135 and 33285
Resistance: 34015 / 35000 / 36110
Support: 32030 / 30800 / 29810
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Nikkei- Break of Double top's necklineLike most of the global indices, Nikkei also had a good run this year.
However, since mid-June, the index started to lose its power and has drawn a Doube Top pattern on our charts.
The start of the week brought the break under the neck-line support of the pattern and Nikkei could continue to the downside.
Levels to watch for bears are 31100 old congestion which also coincides with the measured target of the double top and the important 30k figure.
I'm bearish as long as the price is under 33200