The Nikkei 225 has confirmed a bullish breakout above its multi-month vary, powered by an inverse head and shoulders sample. Momentum stays robust, with targets set close to final yr’s highs and past, Société Générale’s FX analysts be aware.
Momentum targets 44,300
“Nikkei 225 broke out of an Inverse Head and Shoulders sample final month, triggering a gentle upward transfer. It has now surpassed the higher boundary of its multi-month vary. The every day MACD stays firmly in optimistic territory, indicating sustained upward momentum.”
“The following aims are round 42,425pts, comparable to final yr’s highs, and projections close to 44,300pts. The earlier consolidation’s higher restrict at 40,200pts might function short-term help.”
