Nikkei consolidates above key technical level

٧ يناير ٢٠٢١

Nikkei broke above key 27490 level on the last session of the year but then went ahead to make 4 daily lower closes to retest the 27k area. Today was confirmation that 27k has indeed held and the index moved briefly to new 30 year highs. I expect continuation higher as investors gradually realise that Japan is back and that the market is bullish . Next short term projection target is 27750 but my ultimate target for 2021 is much higher towards 31600 as BoJ