The Nikkei fell again during the session on Friday, testing the ¥14,500 level. We believe that this market will continue to struggle to get on its feet,
The Nikkei fell again during the session on Friday, testing the ¥14,500 level. We believe that this market will continue to struggle to get on its feet, but we also recognize that the ¥14,000 level on a longer-term chart looks a very supportive. With that, we are sellers but we recognize that the market will probably only go down to 14,000 at this point in time, and then possibly offer a nice buying opportunity. We’re short-term bearish, but recognize longer-term we have to be bullish overall as the Bank of Japan will continue to support the Nikkei.
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.
