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. Presently price is falling after testing the resistance line. The price will fall either to the support line or to the middle range and then reverse again. Japan 225 is yet to trend for the past one month.
Daily Chart Indicators Reading:
Japan 225 has fallen to level 58 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. It is presently trading in the middle of the price range. The price has been fluctuating within the price range as the index has failed to break the range-bound levels.
4-hour Chart Indicators Reading
Japan 225 is below 40 % range of the daily stochastic. This indicates that the price is in bearish momentum. The 21-day SMA and the 50-day SMA are sloping horizontally indicating the sideways move. On the upside, if price breaks level 23000, the index will resume an uptrend.
General Outlook for Japan 225 (JP225USD)
Japan 225 has been consolidating for the past month in a confined range. The index will resume trending when the range-bound levels have been broken. A breakout is likely as price continues its consolidation.
Note: Learn2.Trade 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
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