Nikkei 225 index Wave Analysis – 16 January, 2023

• Nikkei 225 reversed from key support level 25695.00

• Likely to rise to resistance level 26500.00

Nikkei 225 index recently reversed up from the key support level 25695.00 (which has been repeatedly reversing this index from last May).

The upward reversal from the support level 25695.00 continues the active long-term upward impulse wave ③,  which also previously started from the same support level.

Nikkei 225 index can be expected to rise further toward the next resistance level 26500.00 (which has been reversing the index from the end of December).