The Nikkei initially gapped lower at the open of the week, and then fell hard enough to drop down to the ¥20,000 level. The ¥20,000 level offered enough
The Nikkei initially gapped lower at the open of the week, and then fell hard enough to drop down to the ¥20,000 level. The ¥20,000 level offered enough support to turn things back around and form a hammer. With this, it looks as if the market is ready to go higher, and that we will eventually continue to fresh, new highs. Ultimately, we believe that the Nikkei heads towards the ¥25,000 level longer term. We have no interest whatsoever in selling this market, as it is so bullish and well supported by the Bank of Japan.
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.
