Nikkei 225 Wave Analysis – 14 January, 2022

• Nikkei 225 reversed from support level 27900.00

• Likely to rise to resistance level 28750.00

Nikkei 225 index recently reversed down from the key support level 27900.00 (which has been reversing the price from the middle of December), strengthened by the lower daily Bollinger Band.

The upward reversal from the support level 27900.00 is likely to create the daily Hammer if the index closes today near the current levels.

Nikkei 225 index can be expected to rise further toward the next resistance level 28750.00 (previous minor reversal high from the start of January).