"This year may be the Year-of-the-Bubble for the Nikkei,
the Yen, and the Nasdaq...time will tell
whether this happens, and we'll see the extent of any damage."
From the following 3-Year Daily charts of the Nikkei, the Yen, and the Nasdaq 100, their existing long-term trends are not being confirmed by their respective indicators...suggesting a possible reversal in the cards. If we do get a reversal, the question is whether these are in bubble yet...if so, how far will they reverse?
Near-term major support for the Nikkei sits at 15,000 to 16,000; near-term major resistance for the Yen sits at 95 to 100; and near-term major support for the Nasdaq sits at 3,800 to 4,000. I'd keep a close eye on the Nikkei (which is up 103.5% during this 3-year period, as shown on the percentage gained/lost graph below) for leadership in either direction.