The Japanese index did nothing during the day on Wednesday, and we continue to grind sideways. I believe there is more than enough support below to
The Japanese index did nothing during the day on Wednesday, and we continue to grind sideways. I believe there is more than enough support below to eventually support this market and push it higher, but do recognize of the ¥17,000 level above is a bit of a resistance barrier this can be difficult to break above. With this being the case, it’s likely that the market will continue to grind away but eventually build up enough momentum as the lows have been getting higher. Ultimately, you have to worry about whether or not the Bank of Japan gets involved as well.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
