Japan 225 (JP225USD) Consolidates in a Tight Range Between Levels 22000 and 22400

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

Japan 225 (JP225USD) Long-term Trend: Bullish
Japan 225 is still consolidating above level 22000. A correction candle tested the 0.618 retracement level. It indicates that the index will rise and reach a level 1.618 extension level. Thereafter, the market will continue up trending.

Daily Chart Indicators Reading:
Japan 225 has fallen to level 51 of the Relative Strength Index. The index is an uptrend zone and likely to rise. The market is under bull control. The 21-day SMA and 50-day SMA are sloping upward indicating the uptrend.

Japan 225 (JP225USD) Medium-term Trend: Ranging
On the 4- hour chart, the index is in a horizontal channel. The market is consolidating between level 22000 and 22800. The market is presently in a tight range between 22000 and 22400.

4-hour Chart Indicators Reading
Japan 225 is  below 60 % range of the daily stochastic. This indicates that the price is in a bearish momentum. The 21-day SMA and the 50-day SMA are sloping horizontally indicating the sideways move.


General Outlook for Japan 225 (JP225USD)
Japan 225 is in a sideways move. The index is yet to trend as the price continues to consolidate. After consolidation, the market may trend either way.



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