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.
Stay tuned for updates, folks.
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Source: Vantage FX Blog