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Since the last review conducted on April 25, the Japan 225 stock index has revealed a resistance zone at 27,500.00, declined to book a new low level at 25,520.00, before recovering and surging. On May 30, the index was approaching the combined resistance of the 27,500.00 level and the upper trend line of the 2021/2022 channel down pattern.
A bounce off from the resistance levels would look for short term support in the 2021 low level zone and the 27,000.00 level, before aiming at the 26,500.00, 26,000.00 and 25,500.00 levels.
Meanwhile, a move above the resistance levels and the 28,000.00 mark could encounter resistance in the March high level at 28,660.00 and the 28,500.00 mark.
Mon, 30 May 2022 11:03:38 GMT
Source: Dukascopy Bank SA
Since the last review conducted on April 25, the Japan 225 stock index has revealed a resistance zone at 27,500.00, declined to book a new low level at 25,520.00, before recovering and surging. On May 30, the index was approaching the combined resistance of the 27,500.00 level and the upper trend line of the 2021/2022 channel down pattern.
A bounce off from the resistance levels would look for short term support in the 2021 low level zone and the 27,000.00 level, before aiming at the 26,500.00, 26,000.00 and 25,500.00 levels.
Meanwhile, a move above the resistance levels and the 28,000.00 mark could encounter resistance in the March high level at 28,660.00 and the 28,500.00 mark.