Nikkei 225 Wave Analysis 27 January 2025

- Nikkei 225 fall inside sideways price range
- Likely to fall to support level 38025.00

Nikkei 225 index recently reversed down from the strong resistance level 40285.00 (upper border of the tight sideways price range inside which the pair has been moving since October) standing close to the upper daily Bollinger Band.

The downward reversal from the resistance level 40285.00 stopped the previous minor wave c, which started earlier from the lower border of this price range 38025.00.
                                                     
Nikkei 225 index can be expected to fall to the next support level 38025.00 – from where the index is likely to correct up.