Nikkei 225 may fall to 36700 - 37650

Pivot

39450

Our preference

Short positions below 39450 with targets at 37650 & 36700 in extension.

Alternative scenario

Above 39450 look for further upside with 41100 & 42600 as targets.

Comment

As long as 39450 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

42600 **

41100 **

39450 ***

39038 Last

37650 ***

36700 ***

35700 **

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