How High Can the Nikkei Run? - Forex News by FX Leaders

How High Can the Nikkei Run?

Posted Thursday, September 21, 2017 by
Rowan Crosby • 1 min read

It was a big news day overnight with the FOMC update. That’s followed up today with the BOJ coming out with and update of their own. While there aren't any expectations of a change in policy, the USD/JPY and the Nikkei have been powerful performers

The Yen weakness has helped the Nikkei smash through overhead resistance and run to where there is seemingly only blue skies. As it stands the next levels above are at 20675 and 20900. What that tells me is that if the BOJ doesn’t shake things up, then we have a good chance of some follow-through momentum and a test of 20675 is likely.

NKK

Nikkei – Daily Chart
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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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