Flash: Nikkei at critical juncture, above 15,700 allows 17,000 – ANZ

FXstreet.com (Barcelona) – The Nikkei 225 is at a crossroads, with Tim Riddell, FX Strategist at ANZ, noting that “a close above 15,700 would be seen as opening the potential for 17,000 and a LT retracement level of 19,200 (38.2% range since 1990).”

Riddell adds: “This positive profile is supported by the more dynamic price action seen on the push above 14,820 and the positive turn in momentum indicators. A slide back below 14,820 would be of concern with broad stops below 14,000…”
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