The Nikkei initially gapped higher at the open on Thursday, and then turned back around to fill that gap. It looks as if we are getting ready to try to
The Nikkei initially gapped higher at the open on Thursday, and then turned back around to fill that gap. It looks as if we are getting ready to try to break out now, so we think the pullbacks continue to offer value. We have no interest in shorting this market, and recognize that if we can get above the ¥21,000 level, the market should continue to go much higher given enough time. We believe that the ¥20,000 level below is essentially the “floor” in the market at the moment, and with the Bank of Japan working to pushes market higher, we of course are buyers.
Nikkei Forecast August 7, 2015, Technical Analysis
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.
