Chartbook: Chart JP Nikkei Update: Consolidate break to fresh all-time high

Gains at the start of January through the November 2025 year high at 52636 has seen extension to reach fresh all-time high at 59332.

Subsequent pullback to unwind overbought weekly studies has seen drop to retest the 52636 level. Would take close below here to open up room for deeper pullback, to correct strong gains from the April 2025 year low to support at the 48500/48000, 38.2% Fibonacci retracement and congestion area. Break below this, if seen, will open up room for deeper correction to the 45000, 50% Fibonacci level. 

Corrective pullback is expected to give way to fresh gains later. Break above the 58000 level will expose the 59332 high to retest. Clearance here will further extend the underlying bull trend from the 2008 year low and see room for extension to target the 60000 level where reaction can be expected. Clearance here will see room for extension to the 65000 level.