NIKK Nikkei Daily Chart Oberbot Rising Wedge Negative Divergence

The Tokyo Nikkei daily chart prints another new 5-year high today at the red dot at 14180.  Price dropped out of the rising wedge to initiate the downside but the weaker yen pumps price higher as well as the bullishness from the U.S. jobs report. The indicators remain negatively diverged and unenthusiastic about the higher prices in the NIKK. Check the updated chart later today and the indicators will likely remain under where the thin red lines project in the right margin.  Nikkei needs to correct over the short term.  Note the lofty price levels above the 200-day MA which will also require a reversion over time. The dollar/yen tells the story. BOJ easing = weaker yen = higher dollar/yen = higher NIKK and higher U.S. equities.  BOJ backs off the easing talk = stronger yen = lower dollar/yen = lower NIKK and lower U.S. equities. This information is for educational and entertainment purposes only.  Do not invest based on anything you read or view here.  Consult your financial advisor before making any investment decision.