[NKY225] Collapse of NKY 225 (Japan Stock Market)

٨ أغسطس ٢٠١٩

Here is NKY 225 weekly chart

As you can see,
1) It is break down channel
2) Failed to recover back to the channel
3) RSI is strongly denying uptrend


Plus


This is JPY/USD chart in weekly base.
It broke up the triangle, and getting supported by 200EMA
As DXY is going down and will go down a little more at least one more time in my opinion(even if you don`t agree with it...lol), It will keep pressure down to NKY.

Of course this is just JPY/USD pair, so I cannot surely say that 'JPY value is going up', but look this chart below:


Almost all JPY/currency pair moves earlier than gold/silver, which means people STILL believe JPY as 'value preservation'
So, whatever something nervous happen(Mr, Trump, Fed or whatever ....), people will buy JPY and it will boost NKY`s down momentum.



If NKY go down together with JPY in the end, that will be real collapse