Nikkei 225 was identified at around 37683.0 having recently rebounded of the support on the 30 Minutes data interval. Ultimately, the price action of the stock has formed a Channel Down pattern. This squeeze may increases the chances of a strong breakout. The projected movement will potentially take the price to around the 37768.8636 level.
Nikkei 225 is quickly approaching the resistance line of a Channel Down. We expect either a breakout through this line or a rebound.
