The Nikkei 225 initially tried to rally during the day on Wednesday, but found the ¥16,250 level be far too resistive. Turning back around during the day
The Nikkei 225 initially tried to rally during the day on Wednesday, but found the ¥16,250 level be far too resistive. Turning back around during the day we ended up forming a shooting star and as you can see the shooting star looks very soft. I believe at this point in time that the market may continue to drift lower, perhaps reaching the ¥15,750 level given enough time. Eventually though, I do believe that they will turn this market back around and offer buying opportunities as this market is fairly well supported just below.
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.
