The Nikkei rose during the course of the day on Tuesday, breaking above the ¥20,000 level. We believe that the market continues to go much higher from
The Nikkei rose during the course of the day on Tuesday, breaking above the ¥20,000 level. We believe that the market continues to go much higher from here and therefore we are buyers. In fact, we have a target of ¥20,800 in the short-term, but believe we will continue even beyond that level. Pullbacks continue to offer value that we are willing to buy as the Bank of Japan will continue with quantitative easing, driving down the value the yen which in turn makes Japanese exports cheaper to buy. Needless to say, the Nikkei 225 is chock-full of exporters.
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.
