Index continues higher as expected and is getting close to 50 fib. However, further strength to test 14600 area can’t be ruled out to complete wave ( B ) before Index turns lower again. We don’t like buying into the proposed swing higher at this stage

Nikkei has completed a cycle from 15942 but recovery so far is also corrective which means we are in wave ( B ). Index is showing an incomplete structure from 12409 low, so while above 12691, expect a test of 14300 – 14600 area to complete wave ( B ) before Index turns lower again.

Wave ( A ) low appears to be in place so expect a recovery toward 8225 from where Index should turn lower again. We don’t like buying into the proposed correction higher.

Index has turned lower after completing wave B. A new low will complete a 5 wave decline from wave B high and add more conviction to this view. We should then see a (( b )) wave pullback toward 8100 – 8120 and lower again.

Expect 61.8 fib (2.096) to hold for another leg higher toward 2.36 to complete wave ( B ) before yields turn lower again. View is valid while price stays above 2.00%

Index is headed lower for a test of 12500 to complete a cycle from 15942 peak before we get an upside reaction in the Index. Ideally Index should now stay below wave “b” high but 13711 is the more important level which needs to be respected until 12500 area has been tested.