Chart of the day: Nikkei 225

Blake Morrow Forex Analytix

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.

Author

Blake Morrow

Forex Analytix

Blake Morrow spent most of his professional career as the Chief Currency Strategist for Wizetrade group for 15 years, and then the Senior Currency Strategist for Ally Financial after the acquisition of Tradeking which owned the Wizetrade Group.

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