As if the potential setup wasn’t enough, an hour ago numbers came out of Japan that showed the economy shrank for first time since 2015. The Nikkei futures have had a huge run from the lows 3/26 as seen on the daily chart below. A week ago the NKD broke channel support and has been sliding along the underside which is now resistance and today we have a new daily candle on the other side of this channel support.
If we look at the 1hr of the past few days there is the potential of a Head and Shoulders pattern with the slope at 22680. The trade setup is a short with a SL slightly above the the right shoulder at 22800. The target profit is a measured move down to 22450.