The Nikkei as you can see gapped lower at the open on Friday, testing the ¥15,300 level. That being the case, the market looks as if we will continue to
The Nikkei as you can see gapped lower at the open on Friday, testing the ¥15,300 level. That being the case, the market looks as if we will continue to see a bit of bearish pressure. The ¥15,000 level below though should be supportive, so we think that short-term this market drops, but ultimately we will see buyers step back in around the ¥15,000 level or so. The Nikkei should continue to be supported by the Bank of Japan long-term though, which is why we think that short-term trading opportunities to the downside are going to be just that: short-term.
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.
