Japan 225 (JP225USD) Is in an Uptrend but Stuck Below Level 26900

Azeez Mustapha
18 December 2020 | Updated: 18 December 2020

Key Resistance Zones: 27200, 27600, 28000
Key Support Zones: 20800, 20400, 20000

Japan 225 (JP225USD) Long-term Trend: Bullish
Japan 225 has been on an upward move. The index is consolidating below the resistance at level 26900. Since December 1, the bulls have failed to break the resistance at level 26900. A possible breakout may occur if the price bars are sustained above the SMAs.

JP225USD – Daily Chart

Daily Chart Indicators Reading:
Japan 225 has risen to level 63 of the Relative Strength Index. It indicates that the market is in the uptrend zone. 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 market is fluctuating between level 26400 and 26900. The price action is characterized by small body candlesticks called Doji and Spinning tops. The index is consolidating near the resistance for a possible breakout.

JP225USD – 4 Hour Chart

4-hour Chart Indicators Reading
The 21-day SMA and the 50-day SMA are sloping upward indicating the uptrend. JP225USD is below the 80% range of the daily stochastic. The index is in a bullish momentum. The market is in a sideways move.

General Outlook for Japan 225 (JP225USD)
Japan’s 225 is in an upward move. The index is currently facing resistance at level 26900. The price is fluctuating below the resistance zone. The price consolidation has been ongoing since December 1.

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Azeez Mustapha

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.