The Nikkei 225 rallied on Tuesday, as we continue to see a bit of consolidation near ¥19,500. Ultimately, I believe this market will break down to the
The Nikkei 225 rallied on Tuesday, as we continue to see a bit of consolidation near ¥19,500. Ultimately, I believe this market will break down to the upside and reach towards ¥20,000 which is my longer-term target. I think pullbacks are value, and should be treated as such. I have no interest in selling this market it’s been far too strong, and believe that the USD/JPY currency pair continuing to go higher will continue to push the value the Nikkei 225 higher as Japanese exports become cheaper. I do however expect quite a bit of resistance at ¥20,000.
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.
