Nikkei Forecast May 3, 2016, Technical Analysis

The Nikkei rose during the course of the session on Monday, as we did bounce a bit after a massive rally had formed. With this being the case, the market looks as if it is trying to at least form some type of retorts to the massive selloff, but at this point in time there’s not enough momentum to start buying at this point in time. Quite frankly, it is more than likely going to offer a nice selling opportunity after an exhaustive candle forms. As long as the Japanese yen continues to show signs of strength, the Nikkei should continue to be fairly weak.