NIKKEI clears 72197 resistance as 4H/1D uptrend holds

The Nikkei has done something worth respecting: it walked through the 72197 resistance level and kept going, with price pressing toward the top of the session range at 72503.5.

The index has added just under 1% on the day and more than 4% on the week, grinding through a succession of levels — 68747, 69212 and 72197 — each of which has now become support. The session low of 71118 held well above EMA20, confirming dip buyers remain active and the bid is not thin.

From a trend-following lens the structure is clean. EMA20 at 70882 sits above EMA50 at 69212, which sits above EMA200 at 65137, a stacked configuration that continues to attract systematic flow. The 4H and daily trends are both up, and while the 1H reads neutral, flagging a short-term consolidation, trend alignment across the dominant timeframes remains constructive. RSI is neutral without being stretched, leaving room for the next leg, and although volatility is elevated, the intraday range is consistent with an impulsive trend rather than a topping pattern.

We look to buy into the 70882 to 71118 zone on any retracement, with 70687 support as the hard invalidation. A daily close beneath that level would signal distribution and force a full reassessment of the weekly momentum thesis.