The Nikkei initially tried to rally during the course of the session on Wednesday, but found enough resistance above the 16,000 level to turn things back
The Nikkei initially tried to rally during the course of the session on Wednesday, but found enough resistance above the 16,000 level to turn things back around and form a shooting star. This is a market that seems to have quite a bit of support just below, so buying testing this area, it looks as if we are trying to break through it. However, we are not interested in selling at this moment, because there’s just far too much to work through. If we break above the top of the shooting star though, that could be interesting enough to get us to start going long.
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.
