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.
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.
