The Nikkei closed today at 28,500, after eight straight days of gains

A quick look at today: the Nikkei went up to 28,500 today, gaining 1.2%.

At the same time, Japan CFTC JPY speculative net positions released today at 20:30 UTC with a figure of -57,200, while the previous figure was -57,000.

Nikkei could be slowing down soon; it is getting close to the resistance line and is now at 28,576, only 82.13 points away. Crossing the resistance line could, however, suggest that further gains are ahead. Bollinger Band® analysis indicates that current price action is approaching the upper band at 28,744, thereby suggesting that the Nikkei is becoming overvalued.

Despite basking in an uptrend and bullish intraday sentiment, chart analysis indicates the Nikkei is set for a reversal in the coming days.

Other markets are also showing gains as ASX 200 is trading around 7,361.6 after ending today's session at 7,324 (up 0.51% today). FTSE rises 0.36% today and closed at 7,843.38. CAC went up by 0.52% today, and closed at 7,519.61.

The Nikkei hit a significant low of 15.42 around 6 months ago, but has since recovered 182,500%.