Nikkei 225 is heading towards the resistance line of a Channel Up and could reach this point within the next 2 days. It has tested this line numerous times in the past, and this time could be no different from the past, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we could see a retracement back down to current levels.
Supported by RSI below 40
Target: 39222.9 Entry: 38422 Stop: 37960