Japanese Equities look vulnerable again...

Here we are tracking the clearly defined jurisdictions in Japanese Equities, after completing a 5 wave sequence to the topside the market has entered into wide consolidation.

To the topside we have the yearly highs capping bulls, a convincing break above will unlock the immediate 76.4% retracement (not shown here) and steel resistance at the unfilled gap 23,750.

To the downside, a test of bears jurisdictions looks a done deal in this current risk-off environment. Taking the lows will confirm a meaningful high is in and the economic cycle down is here.

Good luck all those positioning in Japanese Equities.