Nikkei 225 may fall to 33700 - 35300

Pivot

38000

Our preference

Short positions below 38000 with targets at 35300 & 33700 in extension.

Alternative scenario

Above 38000 look for further upside with 39100 & 41000 as targets.

Comment

The index currently faces a challenging resistance area at 38000.

Supports and resistances

41000 **

39100 **

38000 ***

37723 Last

35300 ***

33700 ***

31200 **

Number of asterisks represents the strength of support and resistance levels.