Categories: Technical analysis

Nikkei 225 Wave Analysis 13 April, 2021

• Nikkei 225 reversed from support zone

• Likely to reach resistance level 30275.00

Nikkei 225 index recently reversed up from the support zone lying between the minor support level 29600.00 and the 38.2% Fibonacci correction of the previous sharp downward impulse wave 1.

The upward reversal from this support zone started the active short-term impulse wave 3 which belongs to wave (3) from last month.

Nikkei 225 is likely to rise further toward the next resistance level 30275.00 (top of the precious minor impulse wave 1).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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Tags: nikkei225

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