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.
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.
