Thursday, October 15, 2026

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FxWirePro:Nikkei225 forms shooting star in hourly chart, sell on rallies

Pattern Formed-Shooting Star Major resistance - 16420 (trend line joining 16930 and 17159). Nikkei225 has declined after jumping till 16404 today morning.It is currently trading around 17309. Technically in the hourly ch…

By FxWirePro Team
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FxWirePro:Nikkei225 forms shooting star in hourly chart, sell on rallies
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  • Pattern Formed-Shooting Star
     
  • Major resistance - 16420 (trend line joining 16930 and 17159).
     
  • Nikkei225  has declined after jumping till 16404 today morning.It is currently trading around 17309.
     
  • Technically in the hourly chart  the index has formed shooting start pattern, so a decline till 17000 is possible. 
     
  • On the higher side, resistance is around 17420 (trend line joining 16930 and 17159) and any break above targets 17695/18000.
     
  • The major support is around 17294 (100-H MA) and any break below targets 17118 (200- HMA).

    It is good to buy on dips around 17200 with SL 16985 for the TP of 17695/17800.

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