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Nikkei: bulls continue to climb

2022-07-22
1186
Fundamental analysis:

The Nikkei 225 index closed up 99.24 points, or 0.36%, at 27779.50 on Thursday, July 21. The Bank of Japan kept the current lowest interest rate unchanged, and the Bank of Japan lowered its economic growth forecast this year to support its view that the weak economy needs continuous support.


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




Technical analysis:


According to the 4-hour chart, the bull momentum maintained a good momentum of shock and rise, and there was no sign of stopping in the short term. The MACD index remained at a high level in the bull region, and the RSI index was at a high level, finishing in a narrow range;


Long short turning point: 27769


Pressing position: 27953, 28066


Support position: 27649, 27525


Trading strategy: 27769 bullish above, target 27953, 28066


Alternative strategy: 27769 bearish below, goals 27649, 27525

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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