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Nikkei 225: Bullish bias maintained - 2ndSkies

FXStreet (Bali) - Chris Capre, Founder at 2ndSkies Forex, keeps maintaining a decent bullish bias in the Nikkei 225 for now.

Key Quotes

"The Nikkei has been in a structured uptrend, offering several good with trend trade setups. On the 4hr chart, the Japanese index has consistently pulled back to key role reversal levels where buyers stepped in and started a new up-leg."

"In this latest instance, the index formed a with trend pin bar at a key level. If the pattern holds, then the index should form a new high. Major resistance comes in at 15760 which is over 200 points above. Bulls not already long can consider getting long on corrective pullbacks early to start this week near the support zone around 15500-15045."

"Only a daily close below 15000 breaks the pattern, and suggests either a range bound market, or a deeper correction lower. Until then, maintaining a decent bullish bias for now."

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