The Nikkei bounced during the session on Thursday, showing resiliency as the uptrend continues. The ¥20,400 level offered enough support to turn this
The Nikkei bounced during the session on Thursday, showing resiliency as the uptrend continues. The ¥20,400 level offered enough support to turn this around so we feel that the buyers are most certainly coming back into the market. We think it’s only a matter time before we break out, but at the end of the day we do not have enough momentum yet. Ultimately, any pullback at this point time has to be thought of as value, as the market certainly has quite a bit of underlying strength. The Bank of Japan will continue to do what it can to push this index higher, so we are bullish.
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.
