The Nikkei continues to hang about the ¥20,500 level, as the market should eventually break out to the upside. We recognize that short-term pullback
The Nikkei continues to hang about the ¥20,500 level, as the market should eventually break out to the upside. We recognize that short-term pullback should be buying opportunities, and if we can break above the ¥21,000 level, we are going to continue to go much higher given enough time. We believe that the market is heading towards the ¥25,000 level given enough time, so we are essentially “buy only.” We have no interest in selling as we believe that the Bank of Japan will continue to support the buyers, and work against the selling pressure.
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.
