The Nikkei fell during the course of the day on Tuesday, but still remains well within the consolidation area that we have been stuck in for some time
The Nikkei fell during the course of the day on Tuesday, but still remains well within the consolidation area that we have been stuck in for some time now, and therefore we feel that the buyers will show up sooner or later. We believe this simply offers value in a market that is well supported by the Bank of Japan, and of course the value of the Japanese yen shrinking. With this, we are simply looking for pullbacks to show signs of support in order to go long, and we still consider the ¥20,000 level to be the “floor” in this market.
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.
