Japan 225 (JP225USD) Resumes Downward, Moves after the Recent Breakdown

Japan 225 (JP225USD) Resumes Downward, Moves after the Recent Breakdown

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

Japan 225 (JP225USD) Long-term Trend: Ranging
Japan 225 index is fluctuating between levels 22000 and 23000. The price has tested the upper price range and it is falling to the lower price range. Initially, the bulls partially break the resistance but index is trading in the range-bound zone.

JP225USD – Daily Chart

Daily Chart Indicators Reading:
Japan 225 is at level 50 of the Relative Strength Index. It indicates that the market is in the midpoint of the centerline 50. In other words, there is a balance between supply and demand. The 21-day SMA and 50-day SMA are sloping sideways indicating the sideways move.

Japan 225 (JP225USD) Medium-term Trend: Bearish
On the 4- hour chart, the market was earlier in an upward move. The index has a breakdown as it reaches level 22600. The price was corrected upward and resumed consolidation above level 22900. The index may resume a downward move after consolidation. A retraced green candle tested the 38.2% Fibonacci retracement level. It indicates that the market will fall and reach a low of 2.618 extension level. In other words, the index will reach level 22400.

JP225USD – 4 Hour Chart

4-hour Chart Indicators Reading
The 21-day SMA and the 50-day SMA are sloping downward indicating the downtrend. JP225USD is below 50% range of the daily stochastic. It implies that the market is in a bearish momentum.

General Outlook for Japan 225 (JP225USD)
Japan’s 225 index is falling as a result of the recent breakdown. Japan 225 will fall and reach level 22400 if the selling pressure persists. Presently price is fluctuating above level 22900.



Note: Learn2Trade.com 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 result.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
Share with other traders!