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.
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.
