Nikkei forecast for the week of July 7, 2014, Technical Analysis

The Nikkei initially fell during the course of the week, but found enough support down nearly ¥10,000 level to turn things back around. A break above the ¥10,250 level would be more than enough to start buying now, and we think that ultimately this market will go higher. However, it’s going to be a choppy matter between here and the recent highs, so anybody who is looking to take a long position in the marketplace have to be fairly confident and be able to put up with the volatility that should be coming.