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Long

Nikkei 225 forms bullish cipher pattern, good to buy at dips

FX:JPN225   Nikkei 225 index of Japanese listed shares
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Harmonic Pattern Formed- Bullish Cypher Pattern

Potential reversal Zone (PRZ)- 19380

Nikkei has made a low of 19384 on Friday and recovered from that level. It is currently trading at 19800

Any break below 19380 will take the pair down till 19240/19000 in short term.

On the higher side minor resistance is around 19800 and any break above will take the index to new level 20000. Any close above 20000 will confirm further bullishness.

It is good to buy at dips around 19400 with SL around 19240 for the TP of 19800/20000
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