Japan 225 right above major support, watch for a strong bounce!Japan225 is right above major support at 23085 (Fibonacci extension, Multiple Fibonacci retracement, horizontal overlap support) and a strong bounce could occur at this level to drive price up towards 24139 resistance (Fibonacci extension, horizontal swing high resistance). Do be wary of the intermediate resistance we can expect at 23748 (Fibonacci retracement, horizontal overlap resistance).
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JAPAN 225
JP225USD is testing upward resistanceAfter breaking downward from a descending triangle, JP225USD rallied with all the other global equities. It has shown some resistance at $19,900 which was a former support. If it breaks down, JPYUSD and XAUUSD should rise. Conversely, If it breaks up, JPYUSD and XAUUSD should fall. I will watch the Japanese open and decide whether to go long or short on these trades.