Nikkei 225 Chart Analysis (Apr 24) | Bullish Harami Rebound at 59,716, Buy-the-Dip Prevails
The following technical analysis is based on data as of April 24, 2026.
The Nikkei 225 closed at 59,716.18 yen on April 24, rebounding 575.95 yen (+0.97%) from yesterday's dark cloud cover. Open 59,407.44, high 59,763.68, low 59,225.37, close 59,716.18—a bullish candle. Today's body (59,407.44-59,716.18) sits fully inside yesterday's bearish body (59,758.64-59,140.23), forming a textbook bullish harami that confirms buy-the-dip appetite.
■ Technical Indicators: Current Position
Moving averages: SMA5 59,323.27, SMA25 55,594.65, SMA75 55,053.01, SMA200 49,340.10. Close at 59,716.18 above all averages with perfect order intact. SMA25 deviation +7.41% and SMA75 deviation +8.47%—overheating remains.
RSI reads 64.47, recovering from yesterday's 62.57 with 5.5 points of room to the 70 overbought zone. MACD: 1,440.73 / signal 1,071.86 / histogram 368.87. MACD value continues higher (1,399 to 1,440) while histogram keeps contracting (419.70 to 368.87)—momentum slowing while trend stays bullish. Stochastic %K 95.66 / %D 93.70—%K rebounds and re-crosses %D higher. Ichimoku still bullish with three-fold setup intact.
■ Bollinger Bands and Volatility
Upper 61,970.63, middle 56,268.60, lower 50,566.57, bandwidth 20.27% (from 20.03%)—still expanding marginally. Close at 59,716 sits 2,254 yen below the upper band—plenty of room for upside breakout.
■ Chart Pattern Analysis: Bullish Harami
Today's candle completes a textbook bullish harami after yesterday's long bearish candle. Conditions: (1) prior bearish candle (long preferred), (2) today's bullish body fully contained inside, (3) appearance during an uptrend signals reversal continuation. (1) 4/23 was a long bearish candle (open 59,758.64, close 59,140.23, body 618.41). (2) Today's body (open 59,407.44, close 59,716.18, body 308.74) is fully contained inside the prior body. (3) Mid-uptrend long-bearish-then-small-bullish structure functions as a reversal continuation signal. Bulkowski's data shows standalone bullish harami reliability is limited; confirmation candles are needed. Chart Master's pattern detail page covers harami confirmation and three-inside-up evolutions.
■ Support and Resistance Levels
60-day range: 50,558.91 to 60,013.98. Today's close at 96.85%—near the top. Resistance: 59,763 (today's high), 60,000 round number, 60,013 (4/23 high), then blue sky. Support: 59,225 (today's low), SMA5 at 59,323, 4/17 low at 58,475. Fibonacci 100% at 60,013—break opens new-high territory.
■ Volume and Market Sentiment
Today's volume of 141.4 million versus the 20-day average of 147.6 million yields a 0.96x ratio—average. Bullish harami without volume expansion lowers rebound reliability somewhat. Compared to yesterday's dark cloud cover at 1.11x, buyer energy here is modest. Multi-timeframe stays daily / weekly / monthly strong uptrend.
■ Market Catalysts and Environment
Yesterday's 60,000 touch and reversal followed by today's rebound clarifies the round-number battle. With earnings season escalating, business response, FX, and U.S. markets dominate near-term moves. Weekend-induced gap risk for Monday's open warrants attention.
■ Outlook and Scenarios
Bullish: Volume-backed break above 60,013 (4/23 high) opens new-high territory at 61,000 / 62,000. Three inside up evolution from the harami is possible. Bearish: A break below 59,140 (4/23 close) invalidates the harami; pressure to 58,475 (4/17 low). Neutral: 59,000-60,013 consolidation while overheating resolves.
■ Summary
April 24 bullish harami completion offers a counterargument to yesterday's dark cloud cover. Key levels: upside 60,000 / 60,013, downside 59,140 / 58,475. Monday's open direction and a 60,000 retest will set next week's tone.
* This article provides information based on technical analysis and does not constitute a recommendation to buy or sell any specific security. Investment decisions are your own responsibility.