The Nikkei has hit the 161% extension and may post (at the EOD and there is definitely some time left) a reversal candle with a long wick.

To me, that was a suckers rally this morning, and stopped out some shorts, got a lot of traders long on a breakout. Sunday night will be a very interesting open in Asian trade.

Here is the chart:

 

Blake Morrow

Chief Currency Strategist, Wizetrade