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.
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.
