The Nikkei fell during the day on Tuesday, testing the ¥16,500 level. We turned around though, and at that point in time we formed a massive hammer. This
The Nikkei fell during the day on Tuesday, testing the ¥16,500 level. We turned around though, and at that point in time we formed a massive hammer. This of course is a bullish sign, so we believe that the Nikkei is going to trying to get to the ¥17,000 level, and then eventually the ¥17,500 level. We have no interest whatsoever in selling this market, we believe that the ¥16,500 level will continue to be very supportive of the Japanese index going forward, especially considering there so much in the way of noise just below that level.
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.
