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31 Jul 2014
Nikkei 225: Bull trend intact - 2ndSkies
FXStreet (Bali) - According to Chris Capre, Founder at 2ndSkies Forex, the bull trend in the Nikkei 225 is intact, recommending to trade with the trend for a potential target of 15900.
Key Quotes
"Back on our July 24th daily market commentary, we suggested buying on a pullback into 15325 as we suspected an upside breakout was looming with the price action squeeze forming."
"As you can see, the Japanese index did climb much higher from the next day of our trade setup, closing bullish 4 days in a row."
"For now, the bull trend is intact so we'll continue to trade with the trend as it appears to be well onto its second target of 15900. Any corrective pullbacks towards 15560 or 15500 should be considered for buying opportunities to rejoin the trend."
Key Quotes
"Back on our July 24th daily market commentary, we suggested buying on a pullback into 15325 as we suspected an upside breakout was looming with the price action squeeze forming."
"As you can see, the Japanese index did climb much higher from the next day of our trade setup, closing bullish 4 days in a row."
"For now, the bull trend is intact so we'll continue to trade with the trend as it appears to be well onto its second target of 15900. Any corrective pullbacks towards 15560 or 15500 should be considered for buying opportunities to rejoin the trend."