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.
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.
