Nikkei 225 – Price Action Supporting Upside Breakout | Aug 10

Nikkei 225 – Building For An Upside Breakout (4hr chart)
Minus the spike low on July 7/8, the Nikkei 225 has remained above the key support at 20045 with the Japanese index building a higher base for the last two weeks straight.

This upside pressure in the price action suggests a pre-breakout scenario. Currently the index is testing key resistance just below 21000.

A weaker pullback from here, perhaps towards 20500, followed by another impulsive thrust higher would suggest a breakout is likely near term.

Upside the next target is 21230 and then 21625 so a fair amount of upside near term.

nikkei 225

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I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

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