JP225 is already heavily overbought at the current pricepoint and an imminent correction is in order.
NET buying has been fading..
4h lower highs has been spotted -- conveying weakening long momentum.
Expect some trim downs from this levels: 28400
TAYOR.
NIK225 - 24h expiry
We are trading at oversold extremes.
A higher correction is expected.
This is positive for sentiment and the uptrend has potential to return.
The 50% Fibonacci retracement is located at 30124 from 28893 to 31355.
Further upside is expected although we prefer to buy into dips close to the 30125 level.
We look to Buy at 30125 (stop at...
NIK225 - 24h expiry
Selling pressure from 29249 resulted in all the initial daily gains being overturned.
The current move lower is expected to continue.
The bias is still for higher levels and we look for any dips to be limited.
The trend of higher lows is located at 28562.
Preferred trade is to buy on dips.
We look to Buy at 28805 (stop at 28665)
Our...
NIK225 - 24h expiry - We look to Sell at 27545 (stop at 27635)
We are trading at overbought extremes.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower.
Preferred trade is to sell into rallies.
Although the anticipated move lower is corrective, it does offer ample risk/reward today....
🚨ALERT🚨 Our latest analysis has identified a major support zone for the JPY 225 currency index following the recent decision by the Bank of Japan's new governor, Kazuo Ueda, and other high-impact news events in the economy. 📊💹 With Japan's consumer price inflation hitting a fresh 41-year high in January and remaining above the 2% target for the tenth straight...
🚀🚀🚀 The JPY225 index is on the move! 🚀🚀🚀
After dropping from 27,374, the index is approaching a major support zone at 24,700. This drop comes following the decision of the new governor of the Bank of Japan, Kazuo Ueda, and it could be a major opportunity for traders.
This move also lines up perfectly with our channel trading within support and resistance, so...
NIK225 - 24h expiry - We look to Buy at 27205 (stop at 27110)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
The hourly chart technicals suggests further downside before the...
NIK225 - 24h expiry - We look to Buy at 25690 (stop at 25570)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
A Doji style candle has been posted from the base.
Price action looks to be forming a bottom. This is positive for short term sentiment and we look to set longs at good risk/reward levels for a...
NIK225 - 20h expiry - We look to Buy at 25620 (stop at 25400)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
We are trading at oversold extremes.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
Previous support located at...
K225 - 21h expiry - We look to Sell at 26635 (stop at 26855)
Buying pressure from 25931 resulted in prices rejecting the dip.
The current move higher is expected to continue.
With the Ichimoku cloud resistance above we expect gains to be limited.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Our profit...
NIK225 - 20h expiry - We look to Buy at 27510 (stop at 27290)
Selling pressure from 28166 resulted in all the initial daily gains being overturned.
The current move lower is expected to continue.
The medium term bias remains bullish.
We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
Our profit targets will...
NIK225 - 21h expiry - We look to Sell at 27925 (stop at 28140)
Buying pressure from 27410 resulted in prices rejecting the dip.
With the Ichimoku cloud resistance above we expect gains to be limited.
Preferred trade is to sell into rallies.
Although the anticipated move lower is corrective, it does offer ample risk/reward today.
Our profit targets will be...
NIK225 - 21h expiry - We look to Sell at 28455 (stop at 28650)
We are trading at overbought extremes.
A lower correction is expected.
Previous resistance located at 28339. Preferred trade is to sell into rallies.
Although the anticipated move lower is corrective, it does offer ample risk/reward today.
Our profit targets will be 27895 and 27515
Resistance:...
