• Nikkei 225 reversed from support area
• Likely to rise to resistance level 26875.00
Nikkei 225 index recently reversed up from the support area located between the key support level 26000.00 (which stopped the previous impulse wave (i) in January) and the lower daily Bollinger Band.
The upward reversal from this support area created the daily Hammer, which stopped the previous short-term impulse wave (iii).
Given the strength of the aforementioned support area – Nikkei 225 index can be expected to rise further toward the next resistance level 26875.00 (target price for the completion of the active correction (ii)).
Source: Fxpro
