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Nikkei 225 forecast for the week of September 26, 2016, Technical Analysis

By:
Christopher Lewis
Published: Sep 24, 2016, 04:43 UTC

The Nikkei 225 rally during the course of the week, testing the area near the ¥17,000 level. We pulled back slightly, but at the end of the day it looks

Nikkei weekly chart, September 26, 2016

The Nikkei 225 rally during the course of the week, testing the area near the ¥17,000 level. We pulled back slightly, but at the end of the day it looks like we are simply consolidating in general. If we can break above the ¥17,200 level, this market should continue to climb but I recognize that it will be choppy. Nonetheless, the Bank of Japan looks very likely to trying to support this market going forward so I don’t really have any interest in selling anyway. With this, I expect choppy but positive conditions.

About the Author

Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.

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