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Jpn225: high position wide width consolidation and withdrawal

2022-08-03
1208
Fundamental analysis:

The Nikkei 225 index closed down 403.85 points, or 1.44%, at 27589.50 points on Tuesday, August 2. Japan's Asahi Shimbun reported on the 2nd that Japanese Foreign Minister Lin Fangzheng said at a press conference on the same day that "the Japanese government cannot comment", but "the stability of Sino US relations is extremely important to the international community".


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




Technical analysis:


Looking at the 4-hour chart: the short-term high-level wide range shock slowly went down, the market short momentum began to wait for the opportunity to enter and move down, the MACD index was weak around the 0 axis, and the RSI index was narrow around the 50 equilibrium line;


Long short turning point: 27771


Pressing position: 27929, 28052


Support position: 27600, 27473


Trading strategy: 27771 bearish below, targets 27600, 27473


Alternative strategy: bullish above 27771, target 27929, 28052

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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