The Pivotal Perspective is that both of these are much weaker than USA indexes, especially the current leaders INDU, SPX and NDX. While these three have recovered or in the case of NDX nearly recovered long term pivot levels, both NKY and DAX remain far below. While both have traded above the MarP this month, neither has exceeded its MarR1 level, again in contrast to many many USA and other global indexes. Relative weakness puts both on the short watch list going forward.
NKY low of year on 1HS1, rebounded above YS1 / 1HS1 combo. More bullish for that to hold.
Low also on Q1S3, and above monthly pivot this month but that is it. NKY did not even reach a MarR1 and a far distance from re-claiming any long term pivot. So NKY really still quite weak compared to most USA indexes which is the opposite of last year (NKY big rally while USA flat.)
DAX bounce back above YS1 and 1HS1 but hasn't gotten far.
This is a weak high right on MarR1. It will not take much for DAX to again drop below all pivots.