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Japan's CPI annual rate in April reached the highest since 2008, exceeding the target of the Bank of Japan
2022-05-23
1015
Fundamental analysis:
The Nikkei 225 index closed up 332.16 points, or 1.26%, at 26735.00 on Friday, May 20. Japan's core CPI recorded an annual rate of 2.1% in April, the highest since 2008, exceeding the target level of the Bank of Japan. This result is expected to add complexity to President Kuroda's position that stimulus measures must continue. But the data is unlikely to prompt the Bank of Japan to consider adjusting its policy, with the goal of stabilizing price growth at 2%.
Nikkei index jpn225 - 4-hour K-line chart shows:
Technical comments: the low-level Bull Power fluctuated strongly and rose, maintained the continuous huge earthquake in the upper and lower rail range of the brin belt index for a long time, and the short-term bull power may move further upward. The brin belt index began to shift after it showed an opening trend, the MACD index was maintained on the upper side of the 0 axis, and the RSI index was weak on the upper side of the 50 equilibrium line;
Long short turning point: 26618
Pressing position: 26847, 27016
Support position: 26466, 26306
Trading strategy: bullish above 26618, target 26847, 27016
Alternative strategy: bearish below 26618, targets 26466 and 26306
The above analysis is a personal point of view and is for reference only.
The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.
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