JP225: Rising Wedge

JP225, Daily

In the Daily timeframe, JP225 has formed a rising wedge pattern. Price is sandwiched between two trendlines, with DEMA crossed upwards, a bullish signal. However, the DeMarker is out of the overbought zone.

• A breakout of the upper trendline above 39500 will open the way to 41200 and further to 42500;

• A break of the lower trendline will start a bearish scenario to 37500;