The Nikkei Trading in a Tight Range - Forex News by FX Leaders

The Nikkei Trading in a Tight Range

Posted Friday, August 4, 2017 by
Rowan Crosby • 1 min read

The Japanese Nikkei has been selling off a little over the last week and as a result, there’s been a buy signal out from one of our senior analysts Arslan, since it appears to be getting a little oversold.

In Friday trade, the index has been relatively range bound and behaving in a reasonably predictable fashion.

When the Nikkei ranges it offers high probability opportunities for those looking to scalp. It also offers a good point to enter for those looking for longer term moves.

Keep in mind that towards the end of trade on a Friday, we can often see large volume come in as traders look to close out their positions before the weekend. This can lead to some large late day moves so be aware of that possibility.

Nikkei Range Bound

Economic Data

Earlier the BOJs Kiuchi came out and said that they can’t continue to purchase JGBs forever.

Japanese Average Cash Earnings for the year came in well below expectations at -0.4% (vs 0.6% expected).

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About the author

Rowan Crosby // Asia-Pacific Analyst
Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.
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