The Nikkei recorded a sixth consecutive sharp decline on the 18th, closing at ¥64,425.95, below ¥65,000. It fell below the downward-sloping 25-day moving average, confirming a break below the lower edge of the cloud and a bearish signal from the lagging line.
The Nikkei's closing price fell to ¥64,092.74 on the 15th, down ¥3,651.55 from the previous day, before ending at ¥64,425.95, below the key ¥65,000 level. The candlestick formed a long black line, indicating that the decline had intensified.
Amid the sharp decline, the Nikkei traded below its 25-day moving average of ¥66,483.75. The five-day decline reached ¥6,705.88, while the 3.10% deviation below the 25-day moving average remained insufficient to prompt an autonomous rebound.
In the Ichimoku Cloud, the closing price was pushed below the lower edge of the cloud, and the lagging line generated a bearish signal. The 5-day and 25-day moving averages for TOPIX formed a dead cross, raising concerns that the market may be entering a bear phase.
The index has fallen sharply from its recent high on 6 October, and attention will focus on the movements of the short-term averages and the cloud going forward.