After the Nikkei Average reached its June peak of ¥72,831, it is expected to continue facing resistance on the upside. Individual investor kenmo, who manages more than ¥300 million, outlined a scenario in which range-bound trading will continue from autumn onward.
Japanese equities continued to rise for approximately 1 year and 2 months from April 2025 through June 2026, with the Nikkei Stock Average reaching a peak of ¥72,831 in June. As expectations grew that the market would continue to face resistance on the upside, individual investor kenmo was asked for his view of the market. KENMO manages more than approximately ¥300 million in assets and discussed which stocks should be included in his portfolio in the first installment of an interview.
kenmo describes the current market as a “rest period” and believes that range-bound trading will continue from autumn through winter, rather than waiting for the next major rise in the Nikkei Average. At the time of the interview, the Nikkei Average was in the ¥63,000 range. While an increase of approximately ¥9,000 would be needed to break above the peak of ¥72,831, he expects the market to test and break through the high once before making a sharp rise.