The Nikkei rallied during the course of the day on Tuesday, using the ¥16,500 level for support. Above, we have quite a bit of resistance near the ¥16,800
The Nikkei rallied during the course of the day on Tuesday, using the ¥16,500 level for support. Above, we have quite a bit of resistance near the ¥16,800 level, and that of course could turn the market back around. However, at this point in time we have closed towards the top of the daily range, so that typically means that we are going to see an attempt to continue going higher. On a fresh, new high we would be more than willing to buy this market as we are making “higher lows” on the 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.
