Nikkei 225 ST: bullish bias above 39200.
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Pivot: 39200
Our preference: long positions above 39200 with targets at 42300 & 43800 in extension.
Alternative scenario: below 39200 look for further downside with 38000 & 36700 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
45000 **
43800 **
42300 ***
41190 Last
39200 ***
38000 ***
36700 **
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