Nikkei 225 may fall to 31200 - 33700

Pivot

38000

Our preference

Short positions below 38000 with targets at 33700 & 31200 in extension.

Alternative scenario

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

Comment

As long as 38000 is resistance, expect a return to 33700.

Supports and resistances

41000 **

39100 **

38000 ***

36596 Last

33700 ***

31200 ***

30500 **

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