The Nikkei fell during the session on Monday, as we continue to see quite a bit of resistance near the ¥20,000 level. However, we do believe that
The Nikkei fell during the session on Monday, as we continue to see quite a bit of resistance near the ¥20,000 level. However, we do believe that ultimately this market will break above there and then perhaps the recent action is just the market looking for more buyers below in order to build up momentum and finally climb back above that level. We are waiting to see if we get a supportive candle in order to start buying yet again and believe that there is a massive amount of support below, especially once you get closer to the ¥19,250 level.
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.
