JPN 225 Short Setup

FX:JPN225   Nikkei 225 Index

The Japanese Nikkei is once again testing a historical level of support/resistance , moreover this index has also broken a major long-term trendline (which is better viewed on a weekly timeframe ).

If we manage to clear this level with a solid daily close then this will make an excellent short opportunity.

Expect a potential retest of the trendline and a lot of volatility around the support area .

I recommend entering with a large SL for the people that want to get in on the trade now or waiting for confirmation in the form of a break of the support area for the more cautious traders out there.

If in the unlikely event we see a break of the top of the support zone then expect a rebound/retest at the 1800 level.


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