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.
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.
