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.
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.
