• 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.

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