The Nikkei initially gapped higher at the open on Wednesday, but then found enough resistance near the ¥19,200 level to turn things back around and form a
The Nikkei initially gapped higher at the open on Wednesday, but then found enough resistance near the ¥19,200 level to turn things back around and form a bit of a shooting star. With that, we believe that if we can break above the top of the range for the day on Wednesday, the market can then go to the ¥20,000 level. A pullback from here is more than likely going to find quite a bit of support near the ¥18,500 level as well, so having said that we have no interest in selling whatsoever.
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.
