Japan 225 (JP225USD) Continues Its Sideways Move, a Breakdown or Breakout Is Imminent


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

Japan 225 (JP225USD) Long-term Trend: Ranging
Japan 225 is still consolidating sideways since June 10. The index is in a tight range consolidating between level 22000 and level 22800. Presently, the market is rising to the previous highs. The price action is characterized by small body indecisive candlesticks. These candlesticks describe that buyers and sellers are undecided about the direction of the market.

JP225USD – Daily Chart

Daily Chart Indicators Reading:
Japan 225 has fallen to level 55 of the Relative Strength Index. The index is in an uptrend zone and likely to rise. The 21-day SMA and 50-day SMA are sloping sideways indicating the sideways trend.

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 price is rising and approaching the upper price range. The price movement is currently in a tight range.

JP225USD – 4 Hour Chart

4-hour Chart Indicators Reading
Japan 225 is above 25 % range of the daily stochastic. This indicates that the price is in a bullish momentum. The 21-day SMA and the 50-day SMA are sloping horizontally indicating the sideways move. On the upside, if price breaks level 22800, the index will resume uptrend.

General Outlook for Japan 225 (JP225USD)
Japan 225 is in a sideways move since June. The market has been consolidating in a tight range between level 22000 and 22800. These levels have not been broken for over a month. A breakout or breakdown is likely as price continues its consolidation.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.