The Nikkei gapped lower at the open on Monday, as the indices around the world absolutely fell apart. We broke down below the ¥19,000 level, and then
The Nikkei gapped lower at the open on Monday, as the indices around the world absolutely fell apart. We broke down below the ¥19,000 level, and then tested the ¥18,500 level. We still believe that the Bank of Japan will get involved sooner or later, but quite frankly there needs to be some type of stability in the market. We still believe in the longer-term uptrend, but we also recognize that serious destruction is just occurred. It is going to be difficult or people to get involved. With this, we are on the sidelines waiting for buying opportunities. We will keep you informed.
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.
