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.
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.
