After plunging to test key support around 30,400, the Japan 225 index is staging a strong recovery, up nearly 2% on the day. However, the technical picture still leans cautious:
🔻 Price remains well below the 50- and 200-day SMAs
📉 MACD remains in bearish territory, though downside momentum is slowing
📊 RSI has bounced off oversold levels, now at 43.17
This rebound could extend further in the short term, but bulls likely need a close back above 37,000 to repair the broader trend. Until then, rallies may prove corrective within a developing downtrend.
-MW
🔻 Price remains well below the 50- and 200-day SMAs
📉 MACD remains in bearish territory, though downside momentum is slowing
📊 RSI has bounced off oversold levels, now at 43.17
This rebound could extend further in the short term, but bulls likely need a close back above 37,000 to repair the broader trend. Until then, rallies may prove corrective within a developing downtrend.
-MW
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.