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.
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.
