The downward correction in the Japan 225 market has continued. The bearish momentum hasn’t dwindled, judging by the appearance of the price action on the daily chart. The ongoing trend in the market seems to be aided by the impact of Trump’s tariffs, which have incited a significant selloff.
Key Price Levels
Resistance Levels: 34,000, 36,000, 38,000
Support Levels: 32,000, 30,000, 28,000
Nikkei 225 Continues to Plummet
Bears in the Japan 225 market continue to dominate. This can be seen on the daily chart through the appearance of large red price candles progressing downward, even after falling below all the Moving Average (MA) lines.
Likewise, the Stochastic Rate of Change (ROC) indicator lines have also fallen below the equilibrium level. Furthermore, the terminal end of this indicator maintains a downward trajectory, suggesting a continued oversold condition. This keeps the market falling toward a previous low that was tested last August.
Japan 225 Bears Take a Break at the 32,000 Mark
On the 4-hour Japan 225 chart, it can be seen that price action had previously tested the 32,000 price threshold and rebounded slightly upward. However, this was only enough to keep the market consolidating briefly before resuming its downward retracement on Friday.
The last price candle on this chart remains red and significant enough to indicate that downward forces are resuming activity. Also, the market trades below all the MA lines, while the Stochastic ROC indicator line remains consistent with its downward bearing. Consequently, traders can aim at 31,000 and 30,500 targets ahead of any pending changes on the fundamental front.
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