Nikkei Breakout of the Range – US-Japan Talks in Focus!
Arslan Butt • 1 min read
Earlier today, the US trade delegates and Japan’s economy minister met for the second round of trade discussions that were delayed from Monday. The discussions are ahead of a meeting between Trump and Prime Minister Shinzo Abe which is due on Wednesday at the UN General Assembly.
The Japanese economy desires to hold import duties on its cars and fend off US demands for a free-trade agreement. The country is looking to lower the tariffs on US agriculture in exchange for evading higher auto tariffs. Perhaps, that’s something which caused a bullish breakout in Nikkei.
Looking at the hourly chart, the Japanese stock market index has violated the major resistance level of 23965 and this opens further room for buying until 24100 and 24350.
Therefore, we just opened a forex trading signal to buy Nikkei at 23970 to target 24100. Investors are advised to move their stops at breakeven points as soon as the market enters in profit. Good luck!