Japanese Index Higher

The Japanese Index is trading to the upside as market participants are pushing the price to the all-time high. Price is now gravitating towards the 20800 level which is just a few point shy from the history high 20900. Although the price now feels a bit wobbly, bulls are determined to try and overcome the all-time high.

As the Japanese economy is progressing steadily, fundamentally the outlook is in favor of the higher stock market. If we can get above the history high, bears' attempts to turn the trend could prove futile. Until we get there, however, chances for an inflection point still remain.

Overall market trend is predominantly bullish, both fundamentally with good economic development, and technically with good indications that signal for more growth such as price above the 200SMA and a healthy move to the upside accompanied by corrections.

Chart: JPN IDX D1