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Nikkei: bulls continue to rise

2022-07-08
1145
Fundamental analysis:

The Nikkei 225 index closed up 382.17 points, or 1.46%, at 26501.50 points on Thursday, July 7. The Bank of Japan may consider revising its inflation and economic growth forecast later this month, raising its quarterly inflation forecast from 1.9% in April to a target level of 2% or more for the fiscal year ending next March, and may also consider lowering its economic growth forecast for this year from the current 2.9%.


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




Technical analysis:


According to the 4-hour chart, the low-level bull power continues to move upward near the upper rail of the Bollinger belt index, and the Bollinger belt index is in an opening trend. The MACD index hovers on the upper side of the 0 axis, and the RSI index is in the 50 balanced online side;


Long short turning point: 26503


Pressing position: 26798, 26981


Support position: 26320, 26142


Trading strategy: bullish above 26503, targets 26798, 26981


Alternative strategy: bearish below 26503, targets 26320, 26142

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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