Thursday, October 15, 2026

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FxWirePro: Nikkei225 faces strong support at 14770, good to sell on rallies

Major support – 14770 (Feb 2nd 2016) Major resistance- 15500 (200 W MA) Nikkei225 has slightly recovered after making a low of 14825. It is currently trading around 15153. The Nikkei225 index is expected to decline furth…

By FxWire Pro
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FxWirePro: Nikkei225 faces strong support at 14770, good to sell on rallies
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  • Major support – 14770 (Feb 2nd 2016) 
     
  • Major resistance- 15500 (200 W MA) 
     
  • Nikkei225 has slightly recovered after making a low of 14825. It is currently trading around 15153.
     
  • The Nikkei225 index is expected to decline further and decline till 13825/13000 is possible as long as it closes below 15500. 
     
  • On the lower side immediate support is around 14770 (Feb 2016 low) and any break below targets 14250/13800/13300/12800. 
     
  • The Nikkei225 is facing resistance around 15500 and any break above targets 15900/16300/16500. 

It is good to sell on rallies around 15450-15500 with SL around 16000 for the TP of 14770/13825 

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By FxWirePro Team