Japan 225 (JP225USD) Showing Little Signs of Strength amidst Selling Pressure

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

Japan 225 (JP225USD) Long-term Trend: Bullish
Japan 225 is an uptrend. Recently, the index reached level 23000 and was resisted. The index made a retracement as it found support above the 21-day SMA. As the 21-support holds, Japan 225  resumes upward movement. The index is moving up to retest level 23000, A break above the resistance will push price above level 24000.

Daily Chart Indicators Reading:
Japan 225 has risen to level 58 of the Relative Strength Index. The index is in the uptrend zone and above the centerline. The 21-day SMA and 50-day SMA are sloping upward indicating the uptrend.


Japan 225 (JP225USD) Medium-term Trend: Bullish
On the 4- hour chart, the index is in an uptrend. The downtrend was caused by a bearish double top pattern. JP225USD fell to level 21600 and resumed a fresh uptrend. The index is rising and approaching levels 22800 and 23200.

4-hour Chart Indicators Reading
Japan 225 is now above 20% range of the daily stochastic. This indicates that the index is in a bullish momentum. Buyers are emerging from the oversold region to push the index upward.The 21-day SMA and the 50-day SMA are sloping upwardly indicating the upward move.


General Outlook for Japan 225 (JP225USD)
Japan 225 is rising after the downward move. The RSI and Stochastic indicators are showing bullish signals. This has been confirmed by the price action.


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