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Nikkei 225 Could Test 20,200 then 20,000 Next Week

Nikkei 225 Could Test 20,200 then 20,000 Next Week

Keep in mind that there are several reasons that would suggest Nikkei 225 could pull back short-term but the risk of a strong yen and USDJPY breaking below 104.50 is a key factor that could disrupt Nikkei 225.

The previous two selloffs in global equity – US and Japan our focus – were met buy strong buying interest that resulted in a sustained rally. However, the most recent selloff and so-called rally was weak, and had no energy. It also took place on low volume. The US yield curve inversion, the Hong Kong protests and the US-China trade war are all likely to drive Nikkei 225 lower in the short-term. This is a one to two week downside move that will form a bottom. 

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