The Nikkei gapped higher at the open on Monday, and then went back and forth during the session. The ¥16,000 level still looks a bit resistive, but is not
The Nikkei gapped higher at the open on Monday, and then went back and forth during the session. The ¥16,000 level still looks a bit resistive, but is not until we get above the ¥16,100 level that we feel that we have cleared that bit of noise. Once we do, we feel that this market will then go much higher. On the other hand, we believe the pullbacks will continue to find support, and with the Bank of Japan press conference today, it’s very likely that they will do something or say something in order to push this index higher. With that in mind, we have no interest in selling.
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.
