Navigating the Nikkei: A Wait-and-See Approach for Traders

Launch Chart
May Chen
JP225
·
Oct 16 2024
snapshot
The Nikkei 225 Index is currently following a small wave trading strategy, leaning towards a bullish approach if it breaks a key resistance level. Support and resistance points have been identified, providing potential stop loss and take profit areas. From a technical perspective, the index remains in an upward trend since the sharp drop in early August. While recent market movements were affected by a drop in U.S. semiconductor stocks, this decline aligns with the current upward trendline. Asian markets are showing some positive momentum, and if European and U.S. indices stabilize, there could be further upward movement for the Nikkei. This approach suggests a bullish stance if the key resistance is surpassed. As always, this is general advice and does not reflect the specific views of ACY Securities or consider individual investment goals, financial situations, or needs. Trading carries inherent risks.