Nikkei 225 Wave Analysis – 18 March, 2022

• Nikkei 225 reversed from support level 25000.00
• Likely to rise to resistance level 28000.00

Nikkei 225 index recently reversed up with the weekly Hammer from the key support level 25000.00 intersecting with the lower weekly Bollinger Band.

The upward reversal from the support level 25000.00 stopped the previous weekly impulse waves 3 and (C).

Nikkei 225 can be expected to rise further toward the next resistance level 28000.00 (top of the previous short-term correction 2).