Japan Close To Confirming Major Equity Market Breakdown

Yet another market is close to confirming a major top. I have discussed Germany and France over the last couple of days and Japan is now less than a week away from the monthly candle confirming a failure to breakout above the 25 year resistance zone. Each time price has failed here it has suffered a significant draw down. I suspect this time will be no different.

USDJPY seems likely to follow if the trend line breaks.

Another nail in the coffin for global equity markets.