Nikkei Forecast August 10, 2015, Technical Analysis
The Nikkei initially gapped lower at the open on Friday, but then turned back around to fill that gap. We closed towards the top of the week, and as a result we feel that this market is getting ready to go much higher. If we can break above the ¥21,000 level, we are buyers. We are also buyers on pullbacks to show signs of support, as there is more than enough supportive action below. As long as the Bank of Japan continues to be soft with monetary policy, we believe that this market continues to go much higher.