Japan 225 (JP225USD) Fluctuates in a Range but Breaks Level 23000

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

Japan 225 (JP225USD) Long-term Trend: Ranging
Japan 225 is range-bound between levels 22000 and 23000. The price broke the resistance at 23000, but the selling pressure pushed price into range. The index is falling as price continues its downward move to the support level.

Daily Chart Indicators Reading:
Japan 225 has fallen to level 52 of the Relative Strength Index. The index is in an uptrend zone and it is presently rising. The 21-day SMA and 50-day SMA are sloping  indicating the sideways trend.

Japan 225 (JP225USD) Medium-term Trend: Ranging
On the 4- hour chart, the index is in a sideways move. The price reached a high of 23400 and resumed a downward move. The market will reach the low of level 22600 and may resume an upward move. The downtrend will continue if level 22600 is breached.

4-hour Chart Indicators Reading
Japan 225 is below 20 % range of the daily stochastic. It indicates that the market is in bearish momentum and the oversold region. The index has already fallen after the initial resistance .The 21-day SMA and the 50-day SMA are sloping upward.

General Outlook for Japan 225 (JP225USD)
Japan 225 index is trading between levels 22000 and 23000. The index has continued to be range-bound as the key levels are yet to be broken.


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