Japan 225 (JP225USD) Is in a Sideways Trend, Revisits Previous Low at Level 22000

Japan 225 (JP225USD) Is in a Sideways Trend, Revisits Previous Low at Level 22000


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. Today, the price is falling to the support level at 22000. The index is presently is on a tight range between the levels of 22000 and 23000. In the meantime, the support and resistance levels have been broken by price.

JP225USD – Daily Chart

Daily Chart Indicators Reading:
Japan 225 has fallen to level 41 of the Relative Strength Index. The index is a downtrend zone and it is presently falling. 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 sideways trend. The price tested  level 23000 and resumed a downward move. The downtrend may reach the low of level 22000. The previous low has been tested since June 29.

JP225USD – 4 Hour Chart

4-hour Chart Indicators Reading
Japan 225 is below 20 % range of the daily stochastic. It indicates that the market has reached the oversold region of the market. 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.

General Outlook for Japan 225 (JP225USD)
Japan 225 index is still in a sideways trend. It is not trending but price is falling to the previous low at level 23000. At the low of level 22000, it is likely to move up.



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