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Nikkei testing major resistance, potential for a big drop!

Short
Japan 225 (OANDA:JP225USD)  
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OANDA:JP225USD   Japan 225
Trend Analysis Harmonic Patterns Chart Patterns Nikkei 225 JPN225 CFD jpn225short jpn225long Forex forexsignals CFD Bitcoin (Cryptocurrency) BTCUSD Cryptocurrency
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trendanalysis harmonicpatterns chartpattern jpn225 jpn225short jpn225long forex forexsignals cfd bitcoin btcusd cryptocurrency
Nikkei (JPN225) is testing major resistance at 21409 (Fibonacci retracement, Fibonacci extension, descending resistance) and a strong reaction could occur from here to push prices down to major support at 20276 (Fibonacci extension, horizontal swing low support). We have to be cautious of intermediate support at 20759 (Fibonacci retracement, horizontal overlap support as price might bounce off there too).

Stochastic (89,5,3) is seeing major resistance below 97% where a corresponding reaction could occur.

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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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