The Nikkei as you can see did almost nothing during the session on Wednesday, as we continue to hover around the ¥15,000 level. At this point time, we
The Nikkei as you can see did almost nothing during the session on Wednesday, as we continue to hover around the ¥15,000 level. At this point time, we don’t really see much in the way of trading opportunities here, so we are simply going to sit on the sidelines and wait for a longer-term buy signal as we feel that there should be plenty of support below, but we need to find it first. The Bank of Japan continues to try to support this market both verbally and monetarily, so at this point in time we are “buy only”, but do not have the signal to start putting our money into the market yet.
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.
