Niikkei 225

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 Nikkei 225 daily chart


Analysis

As seen in the above chart, prices are consolidating near the top and it seems that none of the previous lows are taken out indicating that the trend continues to be positive.

From Waves perspective, prices are moving in an impulse fashion and has completed wave 3 and currently wave 4 is ongoing or completed. With inverted hammer positioned at the bottom, prices are likely to open wave 5 higher which can go till 34000-34300 price range.

The summation is Nikkei is positively poised and can go higher towards 34000-34300 price zone over short term.

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