The Nikkei fell during the course of the session on Monday, but found enough support near the ¥16,400 level. We turned back around to form a hammer. The
The Nikkei fell during the course of the session on Monday, but found enough support near the ¥16,400 level. We turned back around to form a hammer. The hammer of course is a bullish sign, but if we can break above the ¥16,800 level, we should continue to go even higher. This is a market that’s highly supportive in this region, and should continue to go higher given enough time if we can get any type of upward momentum. Selling isn’t even possible at this point in time as there is so much support.
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.
