Japan 225 (NIKKEI 225) Advances Northward Above the 50K Mark

The Japan 225 index has made notable upward progress over the past few months. The market has moved significantly from its base around the 30,400 level in April. Currently, futures are trading well above the 50,000 price level, and further upside movement may still be seen.

Key Levels

Resistance: 55,000, 57,500, 60,000

Support: 50,000, 47,500, 45,000

NIKKEI Stays Elevated

The Japan 225 price action has shown substantial movement over recent sessions. The last trading session closed in the red but kept prices above the 9-day Exponential Moving Average (EMA) line.

This suggests that, although the session ended negatively, bullish forces still maintain the overall advantage. The Stochastic Relative Strength Index (SRSI) indicator lines have risen deep into the overbought region.

Japan 225 Stages a Rebound

The NIKKEI 225 market has shown a mild upward rebound. The last price candle on the chart appeared green but with a very small body.

However, the market remains positioned above the 9-day EMA curve, further supporting the potential for continued upward movement.

On the other hand, the SRSI indicator lines have taken a downward trajectory since the most recent crossover. Nonetheless, traders can anticipate a possible rebound from the support provided by the EMA curve toward the 53,500 price level.

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