Annual Forecast for Japan 225 (2021): JP225usd Is Expected to Bubble

Annual Forecast for Japan 225 (2021): JP225usd Is Expected to Bubble

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

In 2020, Japan 225 has been trading in the bull market. However, in the first quarter, the index has a breakdown. In the previous year, the bulls have been making attempts to break the resistance at level 24000. This level caused the index to fall in the first quarter of 2020. Nevertheless, Japan 225 recovered in April to resume a fresh uptrend. The uptrend continued up till December.

JP225USD – Monthly Chart

Japan 225 (JP225USD) Price Predictions: Monthly Chart
A bullish trend line is drawn showing the support levels of the market. The uptrend will continue as long as the bullish trend line remains unbroken.

JP225USD – Weekly Chart

Japan 225 (JP225USD) Price Predictions: Weekly Chart
On the weekly chart, there are two trends namely, the first uptrend that was resisted at level 24000. After the resistance, the index resumed a sideways move below level 24000. Nonetheless, in November, the bulls broke the resistance at level 24000 to resume the second uptrend.


Conclusion
Japan 225 has made impressive moves in 2020. The index rose from a low of $16,400 to level 26,600. There is a likelihood of more upsides in the year 2021.The 9-month old uptrend is likely to continue in 2021.



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Author : Azeez Mustapha

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.