Japan 225 IndexShort
A small bounce on JPN225
A nice channel has formed with a few touch points giving me confidence that this channel will act as S/R. The daily and weekly pivot has not yet been hit and I suspect that price will retrace slightly on the following conditions:
1.) End of month = profit taking and so price may decline
2.) The monthly pivot has not been hit nor has price retrace significantly towards this area
3.) Stochastic is bearish on 1HR/2HR and still overbrought on higher timeframes
1.) End of month = profit taking and so price may decline
2.) The monthly pivot has not been hit nor has price retrace significantly towards this area
3.) Stochastic is bearish on 1HR/2HR and still overbrought on higher timeframes
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.