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.
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.
