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Nikkei 225 Wave Analysis

  • Nikkei 225 broke resistance level 26500.00
  • Likely to rise to resistance level 27000.00

Nikkei 225 index continues to rise after the earlier breakout of the resistance level 26500.00 (which stopped the previous waves 4 and (1)).

The breakout of the resistance level 26500.00 coincided with the breakout of the 38.2% Fibonacci correction of the previous downward impulse from December.

Nikkei 225 index can be expected to rise further toward the next resistance level 27000.00 (former monthly low from November).

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