The Nikkei initially fell during the course of the day on Wednesday, but found enough support just above the ¥16,000 level in order to bounce and form a
The Nikkei initially fell during the course of the day on Wednesday, but found enough support just above the ¥16,000 level in order to bounce and form a hammer. This hammer of course suggests that the market is going to go higher, and as a result we are very bullish of the Nikkei market again. We feel that the ¥16,000 level should offer plenty of support, and as a result we believe that those supportive candles will continue to show up down near the ¥16,000 level again and again. Ultimately, we believe that this market goes to the ¥20,000 level.
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.
