The Nikkei tried to rally during the course of the day on Thursday after initially gapping lower. However, we found enough selling pressure below to form
The Nikkei tried to rally during the course of the day on Thursday after initially gapping lower. However, we found enough selling pressure below to form a little bit of a shooting star, and this of course signifies we are probably going to run into a little bit of trouble. Nonetheless, we feel that this market should still have buyers below so we are not ready to start selling. We recognize that the market has been rather choppy, but the Bank of Japan will get involved sooner or later to try to elevate the value of 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.
