The Nikkei as you can see initially gapped higher at the open on Tuesday, and then fell all the way down to the ¥20,600 level. With this, the market
The Nikkei as you can see initially gapped higher at the open on Tuesday, and then fell all the way down to the ¥20,600 level. With this, the market turned back around on a bounce, and formed a somewhat supportive candle towards the top of the range. If we can break above to a fresh, new high, we would in fact continue to buy this market as it is most certainly bullish. We believe that pullbacks represent value, especially considering that the Bank of Japan is working so hard to bring down the value of the Japanese yen, and of course with the value of the Nikkei itself.
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.
