Today is my wife's birthday, so I'll keep it short ! There is nothing really new anyway.
The Nikkei is still stuck in the 17 400 zone. Again, this is a relatively strong resistance zone that was pivotal a few times in 2007, and it is the last one before the 18 200/18 400 high of June 2006.
On a monthly chart all the indicators/oscillators are in the overbought region and warn of a retracement, which will probably happen in the 18 200 zone as stated above.
No doubt on the trend: don't try to short this (or the USD JPY pair). But now is not the best time to trade this.
Short and concise.
The Nikkei is still stuck in the 17 400 zone. Again, this is a relatively strong resistance zone that was pivotal a few times in 2007, and it is the last one before the 18 200/18 400 high of June 2006.
On a monthly chart all the indicators/oscillators are in the overbought region and warn of a retracement, which will probably happen in the 18 200 zone as stated above.
No doubt on the trend: don't try to short this (or the USD JPY pair). But now is not the best time to trade this.
Short and concise.
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