ICmarkets

Nikkei testing major resistance, potential upcoming drop!

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OANDA:JP225USD   Japan 225
Nikkei is testing major resistance at 22178 to 22360 where we can see strong fibonacci retracement and fibonacci extension along with horizontal overlap resistance. What is nice to see is that there are multiple stochastic reactions that has occurred at that level too.

Major support is at 21700 which is a strong fibonacci retracement, extension and overlap support.

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