A quick look at today: the Nikkei rallied 327.64 points and maintained the 27,528 level.
Visual analysis of the Nikkei's chart shows that Nikkei could be slowing down soon; it is getting close to the resistance line and is now at 27,564, only 36.66 points away. Crossing the resistance line could, however, suggest that further gains are ahead. Trend and momentum analysis indicates that the Nikkei made an initial breakout above its 5 day Simple Moving Average at 27,446, a potential indicator of a newly emerging bullish phase. According to asset volatility analysis, Bollinger Band® analysis indicates that current price action is approaching the upper band at 27,900, thereby suggesting that the Nikkei is becoming overvalued.
Overall, the technical outlook suggests the Nikkei is likely to remain muted for the immediate future, with no clear-cut direction.
The Nikkei shows positive signs, other assets are also on par: Hang Seng added 2.69% and closed around 16,161 today. Notably, KOSPI Composite Index rose 0.99% today and closed at 2,348.43. ASX 200 is trading around 6,933.7 after ending today's session at 6,892.5 (up 0.6% today).
Also worthy of note, Japan Current Account n.s.a. (Sep) will be released tomorrow at 23:50 UTC. Japan Household Spending (MoM) (Sep) is scheduled for today at 23:30 UTC. Japan Household Spending (YoY) (Sep) is expected today at 23:30 UTC.
Having set a significant high of 29,800 a month ago, the Nikkei is trading 176,300% lower.