Nikkei 225 Wave Analysis – 25 May, 2020

• Nikkei 225 broke key resistance level 20600,00,

• Likely to rise to 21500,00

Nikkei 225 recently broke above the key resistance level 20600,00, intersecting with the 61,8 % Fibonacci retracement of the previous sharp downward impulse wave from the start of February.

The breakout of the resistance level 20600,00 should accelerate the active impulse wave 3, which belongs to the medium-term upward impulse sequence (3) from the start of April. Nikkei 225 is likely to rise further toward the next resistance level 21500,00 – forecast price for the completion of the active impulse wave 3