Japan 225 (JP225 USD) Moves Downward, Faces Stiff Resistance at 20000

Japan 225 (JP225 USD) Moves Downward, Faces Stiff Resistance at 20000

Key Resistance Zones: 23200, 23600, 24000
Key Support Zones: 20800, 20400, 20000

Japan 225 (JP225USD) Long-term Trend: Bearish
Japan 225 index is trading below 20000. In today’s candlestick illustration, there is a candlestick with an upper long shadow. This indicates that buyers were able to push price to the 20000 resistance but were overwhelmed. The candlestick is being pushed downward. The bull’s upward move is doubtful because of the selling pressure at the 20000 resistance.

JP225USD – Daily Chart

Daily Chart Indicators Reading:
Japan 225 is at level 52 of the Relative Strength Index. It indicates that the market is in the uptrend zone and above the centerline 50. The 21-day SMA is sloping upward indicating the uptrend

Japan 225 (JP225USD) Medium-term Trend: Bearish
On the 4- hour chart, the market was earlier in an upward move. The bulls tested the 20000 resistance on more than five occasions. Each time the bulls are resisted, the market will fall either to the low of 18000 or 19000. Meanwhile, the market is trading below the 20000 resistance.

JP225USD – 4 Hour Chart

4-hour Chart Indicators Reading
The 21-day SMA and the 50-day SMA are sloping upwardly indicating the upward move. JP225USD is below 75% range of the daily stochastic. It implies that the market is in a bearish momentum.

General Outlook for Japan 225 (JP225USD)
Japan 225 index is currently falling after being resisted.
The market will be in an upward move if the 20000 resistance is breached. The sideways trend will prevail if the bulls fail to break the resistance.

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
Share with other traders!

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.