Nikkei 225日經 225

The Nikkei at 98% of range is in profit-taking territory for chip stocks — both Korea and Japan saw chip-led selling on June 2 after the stellar May rally. The near-term consolidation is real, but the BoJ's ultra-loose stance and structural AI demand into Japan's chip-equipment ecosystem haven't changed. A brief exhale from record highs is not the same as a reversal.

The Nikkei 225 is trading at 85% of its blended 5/20/60-day range — with the 5-day (62%), 20-day (77%), and 60-day (89%) all aligned to the upside — producing a strong bullish score of 0.85. At a conviction of 0.69, the near-term bias favors continued gains, though the elevated range position suggests limited room before potential mean reversion.