Fxwirepro call review: as feared weaker Yen threatens our bearish outlook in nikkei225
Source: FxWire Pro - Commentary / 17 Jul 2018 03:43:31 America/New_York
In February this year, we called on our readers to go short on Nikkei225 as we finally expected the tide to change direction amid loose monetary policy windup, https://www.econotimes.com/FxWirePro-Sell-Nikkei-225-13-risk-reward-ratio-1158298 we urged readers to go short on Nikkei at the then current rate of 21828 with a target of 15300 and stop loss of around 24200 area.
However, in May we had to warn that a weaker yen might threaten our bearish outlook in the Nikkei225 as a weaker yen almost always act as a bullish agent, https://www.econotimes.com/FxWirePro-Call-Review-Weak-yen-might-challenge-our-bearish-outlook-for-Nikkei-1327446
Just as we feared, the weaker yen has led to the stop loss hit in our short-term bear call in Nikkei225, https://www.econotimes.com/FxWirePro-Short-term-sell-opportunity-in-Nikkei225-1401035
Though our longer-term call has not been hit yet, but, it’s already in loss of almost 650 points as JPN225 (CFD of Nikkei225) trading 22660 area. At this point, we are not recommending a complete square off at loss, but calculations suggest that if USD/JPY continues its bull-run, the Nikkei225/JPN225 could rise to as high as 27000 area.© FxWire Pro 2018. All rights reserved. The FxWire Pro content received through this service is the intellectual property of FxWire Pro or its third party suppliers. Republication or redistribution of content provided by FxWire Pro is expressly prohibited without the prior written consent of FxWire Pro, except for personal and non-commercial use. Neither FxWire Pro nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.