During the session on Monday, the Nikkei fell a bit during the course of the day only to turn back around at the ¥19,750 level. Ultimately, the market is
During the session on Monday, the Nikkei fell a bit during the course of the day only to turn back around at the ¥19,750 level. Ultimately, the market is testing the ¥20,000 level, so we believe that it’s only a matter time before he break above there. If we can get above the ¥20,000 level, the market should continue to grind its way towards the ¥20,500 level. We believe that pullbacks are buying opportunities as well, and it’s only a matter time before the stimulus measures by the Bank of Japan prevail, as the Japanese yen loses value.
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.