As the JPY has gained value, on propping up rumours via Japan Authorities, we have seen a drop in the Nikkei.
The pro growth rates set by the BOJ have allowed the Japanese Nikkei to grow to higher highs continually, inline with the positive market sentiment spurred on by a better global economic outlook and a soft landing.
A retracement, however, would reflect some of the economic woes induced by low rates. Anything that turns this around will likely take us back to highs.
Conversely, a continuation of current sentiment will bring us lower. Any longs, therefore, must be tiny, if any. Save them till later.
The pro growth rates set by the BOJ have allowed the Japanese Nikkei to grow to higher highs continually, inline with the positive market sentiment spurred on by a better global economic outlook and a soft landing.
A retracement, however, would reflect some of the economic woes induced by low rates. Anything that turns this around will likely take us back to highs.
Conversely, a continuation of current sentiment will bring us lower. Any longs, therefore, must be tiny, if any. Save them till later.
Note
Nikkei reaching support level 1 similarly to the SPX. Light longs warranted.
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Free Pro Multi Asset Trading Guide:
bit.ly/learnttm
Free Discord Secret Server:
discord.gg/tXAcxFVCJU
Posts Not financial advice.
bit.ly/learnttm
Free Discord Secret Server:
discord.gg/tXAcxFVCJU
Posts Not financial advice.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.