The Nikkei gapped lower at the open on Monday, and then continue to go even lower than that. The ¥18,500 level below should be relatively supportive
The Nikkei gapped lower at the open on Monday, and then continue to go even lower than that. The ¥18,500 level below should be relatively supportive though, because we formed a gap at that level. With this, we are looking for some type of supportive candle in order to start going long again as this market is well supported by the Bank of Japan itself. Ultimately, we have no interest in selling and therefore we feel this market is a “buy only” type of situation going forward. Ultimately, we anticipate this market reaching the ¥20,000 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.
