The Nikkei as you can see bounced a bit during the session, and then broke towards the ¥15,700 level. With that, it appears that the market is going to
The Nikkei as you can see bounced a bit during the session, and then broke towards the ¥15,700 level. With that, it appears that the market is going to bounce from here and continue to go higher, heading towards the ¥16,000 level. If we can get above there, the market then heads to the ¥16,300 level, and possibly higher than that. If we do break higher than the ¥16,300 level, we feel that the market then becomes a longer-term buy-and-hold situation again. As far selling is concerned, we see far too much in the way of support below in order to do so.
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.
