• Nikkei 225 reversed from support zone
• Likely to reach resistance level 30275.00
Nikkei 225 index recently reversed up from the support zone lying between the minor support level 29600.00 and the 38.2% Fibonacci correction of the previous sharp downward impulse wave 1.
The upward reversal from this support zone started the active short-term impulse wave 3 which belongs to wave (3) from last month.
Nikkei 225 is likely to rise further toward the next resistance level 30275.00 (top of the precious minor impulse wave 1).