Nikkei225/J225

18 Eki 2023

Over the past year the Nikkei 225 has had growth that brought new market highs before settling into a clearly defined sideways move.

A previous breakdown of the support area was brief before moving back into the defined channel. The second breakdown dropped to the previous market high before rebounding and then rebounding off of the support level potentially turning it into resistance.

If the price rebounds of the level a second time it will be a good confirmation and an entry for a short.

The price may find the previous high as a support level again, but if it breaks this it could be more fuel for the conversations at the moment by a number of analysts of an impending recession.

This is my own opinion and your own research may be contradictory.