Japan's stock market is in a "prime uptrend" and is going into a new bull market due to the resilience of the country's economy, Robin Griffiths, technical strategist at Cazenove Capital said Monday.
The Nikkei 225 Average is in a "prime uptrend," Griffiths told CNBC. "It's made a base and it's broken the downtrend line… It's going into a new bull market."
"It's (Japan) got a very resilient economy; able now to do business with Asia, and not rely so much on just selling stuff to the West," he added.
On Monday, the Nikkei was down nearly 1 percent, after having closed above the 10,000 level last week for the first time in 8 months.