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Jpn225: high level step vibration pull-up

2022-08-08
1249
Fundamental analysis:

The Nikkei 225 index closed up 238.30 points, or 0.85%, at 28170.50 on Friday, August 5. Japan's household expenditure increased for the first time in four months in June, and the demand for tourism services increased, bringing positive signals for the prospects of economic recovery.


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




Technical analysis:


According to the 4-hour chart, the Bulls' power moves upward in a stepped manner, and the short-term upward trend may continue. The overall bullish sentiment of the market continues. The MACD indicator maintains the consolidation and upward movement in the Bulls' area, and the RSI indicator hovers in the 50 balanced online line;


Long and short turning point: 28053


Pressing position: 28186, 28283


Support position: 27950, 27847


Trading strategy: bullish above 28053, target 28186, 28283


Alternative strategy: bearish below 28053, targets 27950 and 27847

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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