In this update we review the recent price action in the Nikkei (futures contract( and identify the next high probability trading opportunities and price objectives to target.
Asian markets remain looking heavy as the HSI and Nikkei Daily timeframes press lower. The US has been more resilient to negative news and remains focused on inflation and interest rates. The question is how much of the good news ie/ strong economy and bounce from pandemic lows has been factored in to price action in the US. If the US start to take a hit, then...
The Nikkei and Hang Seng along with my local ASX200 are well under pressure today and may see further downside in coming sessions. In the video I take a look at the daily charts for my major Indexes and discuss where I see the risk and how I will look to trade any downside if this weakness continues.
22Aug 2021 Break below 27300 support. Eying at 26200 next support level Congrats if you join us.
Looking at 26200 otherwise 38.2% fibo level Downside bias.
USDJPY rejected a key level today at 116. We sold at 115.5 as we expect 116 to be the last area of resistance in this bullish run. Target is 111.2-110.8 then possibly lower.