The Nikkei fell during the course of the week, slicing through the ¥15,500 level. That being the case, the market looks as if it’s ready to continue to go
The Nikkei fell during the course of the week, slicing through the ¥15,500 level. That being the case, the market looks as if it’s ready to continue to go lower, probably down to the ¥15,000 level, an area where we think the buyers would step back in and support this market. However, we are cognizant of the fact that the European indices are starting to fall rather rapidly, so we are going to be very cautious and wait for just the right supportive candle in order to get involved in this marketplace to the upside.
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.
