The Nikkei 225 or rallied during the course of the week, but still looks fairly soft from the longer-term perspective. We are sitting just above a
The Nikkei 225 or rallied during the course of the week, but still looks fairly soft from the longer-term perspective. We are sitting just above a significant amount of support though, so longer-term it would not surprise me at all if we did rally. In the meantime, though, it is going to be very choppy so it makes sense to stand on the sidelines as far as longer-term trades are concerned when it comes to the Nikkei 225 currently. I will be watching for impulsive candles on the weekly chart in order to make my next long-term trade.
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.
