Long term: rise above MM (104.38)

On a yearly basis, a close occurred below LY and Bollinger bands are flat. A bearish non-crossover is the status for our 7 / 23 years moving averages. Our stochastic is overbought. The decline in progress could continue.

On a quarterly basis, UQ / LQ spread is increasing. On a monthly basis, a bullish divergence is the status for our monthly stochastic. A recovery towards PM (100.91) or higher is expected.

Idea: above PM is not ruled out.

R = PM (100.91), MM (104.4);     S = MW (93.4).

Medium term: rise without bullish trend

 On a weekly basis, UW (99.94) is our next target. With UW / LW spread, UW is a strong resistance.

Idea: above UW, the move is a technical rise.

R = UW (99.94), PM (100.91);           S = MW (93.4)

Short term: higher?

On a daily basis, PD acted as a resistance for two days. If it acts as a resistance today, a decline towards MD (95.78) is not ruled out.

Idea: a technical decline is in progress.

R = PD (99.56), PM (100.91);   S = 96.58, MD (95.78)

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Conclusion: year’s end for Japan.