The Nikkei initially fell during the session on Monday, but turned back around to break out to a fresh, new high. Because of this, we believe that the
The Nikkei initially fell during the session on Monday, but turned back around to break out to a fresh, new high. Because of this, we believe that the Nikkei will continue to extend much higher, and that the next leg higher has just started. With this, we believe that the market will reach towards the ¥21,000 level, and then eventually towards ¥25,000 given enough time. The Bank of Japan continues to work against the value of the Japanese yen in general, and as a result we feel that this market will continue to go higher as they not only work in the currency markets, but by ETFs as well.
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.
