The Nikkei fell significantly during the course of the week, as we continue to test the ¥17,000 level. Ultimately, there is more than enough support below
The Nikkei fell significantly during the course of the week, as we continue to test the ¥17,000 level. Ultimately, there is more than enough support below to keep this market going higher though in our opinion, at least not until we get below the ¥16,000 level. Once we get below there, the market could fall apart yet again, but at this point in time we are simply going to wait to see whether or not we get a supportive candle in order to start buying yet again. Ultimately though, this is a very volatile market and it is probably going to be easier trading this index on a daily chart.
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.
