JP225: Relief Rally After Bearish BOS?Japan 225 IndexICMARKETS:JP225LIVERMORE333The recent intraday sell-off has led to extreme price deviation from major EMAs (20/50/200). Technically, the market is in an "oversold" state, and we are now looking for a relief rally or short-covering bounce. 1. Structure & Targets We have confirmed a Bearish BOS (Break of Structure) at the 62,324 level (green circle). While the primary trend remains bearish, a mean reversion towards the EMA 20/50 cluster (yellow circle) is expected. If momentum is strong, a retest of the 65,295 level (previous support turned resistance) is plausible. 2. Supplementary Insights Role Reversal: The 62,324 level has flipped from a "hard floor" to a "heavy ceiling." Price action around this zone will be a litmus test for the strength of this bounce. Selling Climax Signs: We see a significant spike in volume at the recent lows (60,430), suggesting a potential "selling climax" where panic selling was absorbed. This adds conviction to the short-term recovery thesis. Psychological Floor (60,000): Strong buying interest and short-covering are clustered near the 60,000 psychological handle, providing a temporary foundation for this rally. Conclusion: The overall structure is still bearish, but the immediate play is to capture the "rubber band effect" back towards resistance. I will be looking to re-establish short positions near the descending trendline or EMA clusters once the bounce exhausts. Stay disciplined and keep positions simple in this high-volatility environment. #JP225 #Nikkei225