The Nikkei 225 initially tried to rally during the day on Monday, but found quite a bit of resistance above, turning around near the ¥15,400 level. At the
The Nikkei 225 initially tried to rally during the day on Monday, but found quite a bit of resistance above, turning around near the ¥15,400 level. At the end of the session, we had formed a shooting star that sat right upon the ¥15,000 level. This suggests that perhaps there is a bit more downward pressure waiting to happen, and break down below the lows from the erratic trading on Friday should send this market much lower. On the other hand, if we break the top of the shooting star to the upside, we could get a continuation of that upward momentum all the way to the ¥16,000 handle.
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.
