The Nikkei 225 gapped higher at the open on Thursday, as we reached towards the ¥18,900 level. This market has broken out as most indices around the world
The Nikkei 225 gapped higher at the open on Thursday, as we reached towards the ¥18,900 level. This market has broken out as most indices around the world now, so pullbacks should be thought of as value. The ¥18,500 level is the “floor” as far as I can see, and I still believe that we’re going to reach towards the ¥20,000 level. Every time we pullback on a short-term chart, that should be a nice buying opportunity, as the USD/JPY pair has been shooting higher in value, thereby making Japanese exports cheaper.
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.
