The short term support now remains the 61,000 to 62,000 levels but the momentum is pointing to 65,000.
Final Words
The Nikkei 225 is bullish after breaking above 60,000 and setting a record above 62,000. The rally indicates that investors are paying attention to the prospect of a U.S.-Iran peace deal and a surge in interest in Japanese technology, materials and financial stocks. The technical structure also favors additional upside with a V-shaped recovery, rounding bottom and price compression breakout to 65,000. Despite this bullish momentum, the Middle East crisis continues to be a big threat.
AloJapan.com