The Nikkei gapped lower at the open on Monday, but then turned back around to form a rather bullish and impulsively strong candle. With this being the
The Nikkei gapped lower at the open on Monday, but then turned back around to form a rather bullish and impulsively strong candle. With this being the case, the market looks as if it is going to continue to go higher, perhaps reaching towards the ¥20,750 level. Pullbacks going forward should be a buying opportunity, and as a result we continue to buy this market every time it shows signs of pulling back in order to go much higher. We think that the Bank of Japan continues to work against the value of the Japanese yen, so given enough time we should see fresh new highs.
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.
