The “again” in the title refers to the previous false start on the big picture Japan situation. People can argue all they want about why Japan is not fundamentally bullish, but NFTRH+ does charts and so…
Nikkei has broken above the daily SMA 200. Okay, no great shakes here because so many other global markets have done the same.
But the weekly chart shows Nikkei back above the 2015 high, which had been the previous ultimately ill-fated breakout point.
The monthly view is the most telling as the 2015 breakout is also a breakout to a long-term basing structure. If Nikkei is able to hold the break and take out the 2018 high its target of 34,000 would be active. The daily SMA 200 on the first chart can be used as a caution signal.
Personally, I am not taking anything for granted in the world of stocks but insofar as I am a bull I have added the currency-hedged HEWJ for Nikkei tracking.
A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the technical parameters are already noted. These updates are meant as a starting point for your further research if interested. I will not personally buy every item highlighted and will sometimes sell (ref. Trade Log) any item that I do buy below target (assuming I’ve not stopped out or sold for some other reason) as I often do. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.