The Nikkei fell rather drastically during the course of the session on Thursday, as the Bank of Japan failed to add quantitative easing to the
The Nikkei fell rather drastically during the course of the session on Thursday, as the Bank of Japan failed to add quantitative easing to the marketplace. Because of this, it was a bit of a shock to the marketplace, and we fell all the way down to the ¥16,250 level. With this being the case, we will more than likely try to find support below but currently don’t have it on the daily chart. As soon as we get a supportive candle though, we believe that the market will turn right back around as the Bank of Japan should eventually add quantitative easing, but it may not be until June.
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.
