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JPN 225 Pauses under 50% Fibonacci and Resistance

JPN 225 Pauses under 50% Fibonacci and Resistance

Nathalie Huynh, Contributor

Talking Points:

  • Strategy: Maintain long positions with tight stops, or trade the range
  • Resistance levels come at 17,438.5; 18,045.8
  • Momentum is biased to the upside

Nikkei 225 pauses ahead of 50% Fibonacci and resistance level at 17,438.5 on a second day. Upward momentum signals indicate the level might be tested in the near future. Overall, the 16,525.5-17,438.5 range still contains price movement.

Traders who prefer to maintain their long positions may consider keeping stops close to the resistance level in case a downward reversal emerges. Those who are waiting to trade the range may find opportunities near the range top.

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--- Written by Nathalie Huynh, Strategist for

Contact and follow Nathalie on Twitter: @nathuynh

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.