Japan 225 (JP225USD) Is Range-Bound but Fluctuates in the Middle of Price Range

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

Japan 225 (JP225USD) Long-term Trend: Ranging
The index is fluctuating between levels 22700 and 23500. The price is fluctuating and testing the resistance and the support levels but unable to break it. The market is now consolidating in the middle of price range.

Daily Chart Indicators Reading:
Japan 225 is at level 48 of the Relative Strength Index. It indicates that the market is in the uptrend zone and above the centerline 50. The 21-day SMA and 50-day SMA are sloping sideways indicating the sideways move.

Japan 225 (JP225USD) Medium-term Trend: Ranging
On the 4- hour chart, the market is in a sideways move. It is currently fluctuating between level 22750 and 23600. The price is fluctuating in the middle of the price range.

4-hour Chart Indicators Reading
The 21-day SMA and the 50-day SMA are sloping horizontally indicating the sideways move. JP225USD is below the 30% range of the daily stochastic. It implies that the market is in a bearish momentum.


General Outlook for Japan 225 (JP225USD)
Japan 225 index is in a sideways trend. Since August, the market has been range-bound. It is fluctuating between levels 22700 and 23500. The market is yet to trend as price consolidates in the middle of price range.



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