The Nikkei 225 initially dipped lower at the open on Monday, but then shot above the ¥18,500 level. This is a market that has been strong for some time,
The Nikkei 225 initially dipped lower at the open on Monday, but then shot above the ¥18,500 level. This is a market that has been strong for some time, and it should then reach towards the ¥20,000 level over the longer term. Pullbacks should continue to find quite a bit of support below at the ¥18,250 level, and that buyers will continue to look at this market as offering value when we did. Ultimately, this is a market that is essentially “buy only”, and with that being the case I continue to be bullish.
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.
