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Japan's manufacturing activity growth hit a three-month low in May

2022-06-02
972
Fundamental analysis:

The Nikkei 225 index closed up 140.70 points, or 0.52%, at 27420.50 points on Wednesday, June 1. The growth rate of manufacturing activities in Japan in May was the slowest in three months. Severe epidemic prevention restrictions in Asia exacerbated supply chain disruptions and increased risks to the economic outlook.



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




Technical comments: the upper rail section of the Bollinger belt index channel continued to fluctuate and rise, and the high level began to fluctuate after reaching the node near 27604. The short-term bull power continued to maintain the upward trend, the Bollinger belt index continued to fluctuate and move upward, the MACD index maintained the consolidation and translation in the bull region, and the RSI index maintained the weak consolidation in the bull region;


Long short turning point: 27388


Pressing position: 27566, 27677


Support position: 27261, 27123


Trading strategy: bullish above 27388, target 27566, 27677


Alternative strategy: 27388 bearish below, target 27261, 27123


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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