The Nikkei initially fell during the day on Friday, but turned back around to form a bit of a hammer. With that being the case, the market looks as if it
The Nikkei initially fell during the day on Friday, but turned back around to form a bit of a hammer. With that being the case, the market looks as if it is trying to build up enough momentum to break above the ¥20,000 level. Once we get above there, the market should continue to go towards the ¥20,750 level. Ultimately, we think that pullbacks will continue to be buying opportunities as there is a massive amount of support somewhere near the ¥19,250 level. With the Bank of Japan and its monetary policy, we believe that the Nikkei continues to grind its way higher
Nikkei Forecast November 23, 2015, Technical Analysis
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.
