- Nikkei 225 index broke key resistance area
- Likely to rise to 29000.00
Nikkei 225 index recently broke through the key resistance area lying between the round resistance level 27000.00 (which has been reversing the price from the end of November) and the resistance trendline of the wide daily up channel from start of August. The breakout of the resistance level 27000.00 accelerated the active impulse waves 5 and (3).
Given the clear multi-month daily uptrend and the improvement in the risk appetite amid mass vaccination being carried our across Europe and USA – JPN225 index is likely to rise further toward the next resistance level 29000.00 (target price for the completion of the active impulse waves 5 and (3)).