Trend change on the Nikkei?

On the 4 hour chart of the Nikkei we can see that the index has formed what it appears to be an Inverted Head and shoulders formation. This formation is a bullish-reversal pattern, therefore the index may continue heading higher, especially after breaking above the 55 period exponential moving average and above the 38.2% Fibonacci Retracement. However, somewhat higher, the 200 period exponential moving average, blue line, along with the 61.8% Fibo, around the 16486 level, could act as resistance. To the downside, the 23.6% Fibo, around the 15798 level could act as support.