Clear US-Japan Decoupling: Bearish Structure Remains Intact

In stark contrast to the aggressive rebound in the US500, the JP225 remains technically heavy. Both trend and market structure continue to point downward. Unlike the S&P 500, we see no signs of a structural reversal yet, and the chart remains dominated by a bearish bias.

While the index is being "dragged up" by the strength of US equities, it lacks the internal momentum to push higher independently. We are witnessing a clear decoupling between US and Japanese indices, making the current environment particularly tricky.

The recent lower high near 65,295 acts as a formidable resistance. Unless we see a clean break above this level, the bearish outlook remains unchanged.

Conclusion:
As long as the trend and structure remain bearish, my bias is fixed on Shorts. However, given the potential "noise" (short squeeze risk) from the US markets, I am keeping my position size at an exploratory level. I am monitoring whether the Nikkei will finally follow the US into a structural shift (breaking 65,433) or succumb to its own weight and retest the lows.

#JP225 #Nikkei225