Fundamental analysis:
The Nikkei 225 index closed down 216.52 points, or 0.80%, at 26785.00 on Tuesday, May 24. Japan's inflation rate will remain above the central bank's target of 2% in the last three quarters of this year. In Japan, consumer prices excluding fresh food will rise by 2.1% year-on-year in this quarter and the next quarter, and by 2.2% in the last three months of this year. The upward revision of expectations from the last survey data reflects that inflation continues to be higher than analysts' expectations.
Nikkei index jpn225 - 4-hour K-line chart shows:
Technical comments: the bull power continued to fluctuate and rise in the middle and upper rail section of the brin belt index channel. After the high level reached the node near 27138, it fluctuated and fell rapidly. Entangled in the lower side of the brin belt index, the short-term short power began to wait for the opportunity to enter and go down. The brin belt index began to close after it showed an opening trend, and the MACD index remained in the bull area to fluctuate and fall, RSI index short power remained fluctuating, down to the lower side of the 50 equilibrium line;
Long short turning point: 26748
Pressing position: 26895, 27047
Support position: 26527, 26380
Trading strategy: 26748 bearish below, targets 26527 and 26380
Alternative strategy: bullish above 26748, targets 26895 and 27047
The above analysis is a personal point of view and is for reference only.