Symmetrical Triangle Forming on the Nikkei

G’day Traders,

Flipping through the charts last night, I came across this and wondered, is the sun setting on the Nikkei?

What we’re seeing here is a symmetrical triangle pattern forming on the daily chart. Now, ideally i’d like to see a few more touches of the trendline, but the pattern is still valid. While symmetrical triangles are relatively unbiased in direction, this overall does look bearish.

Nikkei

Stay tuned for updates, folks.

 

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Source: Vantage FX Blog