Chart of the day: Nikkei 225
|The Nikkei 225 should be in focus near term as the Japanese market is setting up a symmetrical triangle. With the big moves in the JPY overnight with USD/JPY back below the 108.35 support and Some of the other JPY crosses pressured, perhaps a move below the 28,800 may accelerate some JPY gains. The market was pretty biased short JPY a couple weeks back and perhaps some of those trades continue to unwind on a break lower out of the triangle in the Nikkei 225. Also, note the very divergent RSI on the daily charts as well.
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