Nikkei 225 index Wave Analysis – 28 April 2023

• Nikkei 225 broke resistance level 28645.00

• Likely to rise to resistance level 29250.00

Nikkei 225 index rising sharply after the price broke above the resistance level 28645.00 (which has been reversing the price from the end of August).

The breakout of the resistance level 28645.00 continues the active short-term impulse wave (iii), which belongs to the higher impulse waves 3 and (3).

Nikkei 225 index can be expected to rise further toward the next resistance level 29250.00 (target price for the completion of the active impulse wave (iii)).