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.
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.
