apan's GDP fell less than expected in the first quarter

Fundamental analysis:

The Nikkei 225 index closed up 234.75 points, or 0.88%, at 26894.50 on Wednesday, May 18. Japan's GDP in the first quarter was at an annual rate of - 1.0%, lower than the expected - 1.8%. Japanese government officials said that the contraction of GDP in the first quarter was mainly caused by the increase of imports; The United States and Japan will establish a cooperative relationship on rare earth supply.

Nikkei index jpn225 - 4-hour K-line chart shows:

Technical comments: the high short power fell rapidly, continued the Bollinger belt index to go down the track to the node near 26224 and began to sort out. The short-term short power continued to decline. After the Bollinger belt index showed a closing trend, it began to open gradually. The MACD index remained in the bull area and fell rapidly after moving up, and the RSI index was in 50 equilibrium. The online side maintained sorting and translation, and then fell rapidly to the short area;

Long short turning point: 26306

Pressing position: 26453, 26609

Support position: 26120, 25990

Trading strategy: bearish below 26306, target 26120, 25990

Alternative strategy: bullish above 26306, targets 26453 and 26609

The above analysis is a personal point of view and is for reference only.