The Nikkei bounced off of the ¥17,750 level, an area that now looks as if it is going to be supportive. We have broken back above the ¥18,000 level, and
The Nikkei bounced off of the ¥17,750 level, an area that now looks as if it is going to be supportive. We have broken back above the ¥18,000 level, and we now feel that this market is trying to find its footing. Keep in mind that it is going to be harder to climb that was fall, but we believe that the Bank of Japan continues to work against the value of the Yen, and then of course will step into the Nikkei 225 and start buying ETFs. With this, on a break above the ¥18,500 level, we would be willing to start buying.
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.
