Nikkei 225 Forecast July 29, 2016, Technical Analysis

Published: Jul 29, 2016, 05:26 UTC1min read
Nikkei daily chart, July 29, 2016
The Nikkei 225 fell a bit during the course of the day on Thursday, as we continue to grind around the ¥16,500 level. Because of this, looks like we are not ready to go anywhere at the moment, but I do think that eventually this market shows a bit of
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The Nikkei 225 fell a bit during the course of the day on Thursday, as we continue to grind around the ¥16,500 level. Because of this, looks like we are not ready to go anywhere at the moment, but I do think that eventually this market shows a bit of a bullish bias, due to the Bank of Japan feeling as if it needs to support the markets overall. I am a buyer of short-term supportive bounces, but realize at this point we will probably do more sideways trading than anything else.

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