NIKKEI clears 72197 as trend stack stays aligned up

The Nikkei is running, and the tape shows no interest in pausing — six consecutive resistances cleared in seven sessions, and 72197 has now folded into support.

Price is up 2.12% on the day, printing a session high of 72419.5 before settling near 72385. The intraday range stretches from 70660.5 to that session peak, a wide sweep consistent with the elevated volatility regime currently in play. No single macro catalyst dominates the headline tape, but that is characteristic of late-stage trend momentum: buyers are not waiting for permission.

The structural read is unambiguous. Price sits well above EMA20 at 70463.54 and EMA50 at 69937.73, with EMA200 at 65898.16 a distant floor anchoring the multi-month trend. Trend is aligned up across 1H, 4H and 1D — the clearest bullish configuration available. RSI sits in neutral territory rather than overbought, which argues the move has room before a mean-reversion crowd develops. Volatility is elevated, so position sizing should reflect the wide ATR. The prior broken levels at 70687 and 71111 now act as layered demand below current price, providing a natural staircase for pullback buyers.

We look for dips into the 71111 area as the entry pocket, with next resistance at 73634. A daily close below 71111 invalidates the constructive view and warrants a stand-down.