I have been watching this pair for the last few weeks. It is closely related to China, with all it's current problems, as many Chinese companies are represented on the Japanese Index (I'm led to believe). It's been uncannily bouncing off fib lines all the way down, both the Fib drawn on a larger scale, the rise from October to December, and also smaller partitions of these on the way down.
I would say we are very likely to see a drop down to the October low at 17000 but could well see a slight retrace to 17550 before hand and so this is where I will put my entry. My SL will be 17815 and target 17000 with a 1 to 2 R/R. Though we could se things going even further down, the next supports being in the 16600 region
The charts a little rough to look at, any tips on neatening it up would be much appreciated!!
I would say we are very likely to see a drop down to the October low at 17000 but could well see a slight retrace to 17550 before hand and so this is where I will put my entry. My SL will be 17815 and target 17000 with a 1 to 2 R/R. Though we could se things going even further down, the next supports being in the 16600 region
The charts a little rough to look at, any tips on neatening it up would be much appreciated!!