The Nikkei gapped lower at the open on Tuesday, breaking below the ¥15,000 level. With that, the market was very bearish all of a sudden, and a move below
The Nikkei gapped lower at the open on Tuesday, breaking below the ¥15,000 level. With that, the market was very bearish all of a sudden, and a move below the ¥14,800 level has us market falling rather significantly. We understand that the Bank of Japan is going to continue to try to support the market, as well as devalue the Yen. That being the case, the market looks as if it is going to continue to be very well supported by the central bank, but it appears that the traders at the moment are simply not paying attention to that.
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.
