Nikkei 225 index is on its way to test the upper daily Bollinger Band (29525) – which has been intact for the last 62 trading sessions. Beyond the upper daily Bollinger Band there is a pivotal resistance level 29682.5 (monthly high from May). Selected Alpha ranks the cumulative strength of the nearby resistance area at 275 RealStrength points. Overbought daily Stochastic adds to the probability of the intraday reversal.
As can be seen from the following Macro Bands Monitor chart – Nikkei 225 index has not touched the upper Bollinger band for the longest time period – followed by SP500 and Dow Jones.