The Nikkei 225 has confirmed an upward breakdown above its range of several months, driven by an inverted head and shoulders. The impulse remains strong, with objectives established near the maximums of last year and beyond, the foreign exchange analysts point out Générale.
The impulse objectives are 44,300
“The Nikkei 225 broke a head and shoulder pattern invested last month, triggering a constant ascending movement. It has now exceeded the upper limit of its range of several months. The daily MACD is firmly maintained in positive territory, indicating a sustained ascending impulse.”
“The next objectives are around 42,425 points, corresponding to the maximum of last year, and projections about 44,300 points. The upper limit of the previous consolidation in 40,200 points can serve as a short -term support.”
Source: Fx Street
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