The Nikkei 225 ($NIKK) broke above wedge resistance with a surge to 14589 and extended its long-term uptrend. First, note that the long-term trend is up after the big surge from November to May. Second, this triangle represents a consolidation and the breakout signals a continuation of the uptrend. Third, notice that the Yen Index ($XJY) is breaking the triangle trend line and the Nikkei is negatively correlated with the Yen. Key support for the Nikkei is set at 13900 and a break below this level would warrant a reassessment.
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