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Nikkei Bear Market Over

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 22, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The Japanese stock market, the Nikkei, looks like it may have completed its bear market yesterday at the 16017 quote which was just over 23% down from the previous high. Let’s take a bottom up approach to the analysis beginning with the daily chart. NIKKEI DAILY CHART I have drawn an Andrew’s Pitchfork from the 2015 high. This shows a recent pattern of three consecutive lows over the August/September 2015 time period finding support at the lower channel. Price then traded bullishly out of this

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