The Nikkei as you can see fell hard during the course of the week, breaking down below the ¥15,000 level. The ¥15,000 level was supportive, but we think
The Nikkei as you can see fell hard during the course of the week, breaking down below the ¥15,000 level. The ¥15,000 level was supportive, but we think that the ¥14,000 level is probably now the target. The question of course is whether or not we could get a longer-term trade to go that low. We think we can but the risk reward ratio isn’t worth it at this point for longer-term traders. With that, we will continue to monitor this market but traded from a shorter timeframe at this point.
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.
