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Nikkei: concussion up

2022-07-11
1162
Fundamental analysis:

The Nikkei 225 index closed up 85.97 points, or 0.32%, at 26576.50 points on Friday, July 8. Japan's balance of payments data showed that Japanese investors sold us sovereign bonds for the seventh consecutive month in May, the longest reduction cycle since data were available in 2005.


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




Technical analysis:


According to the 4-hour chart, the momentum of bulls continued to move up, and short-term bulls showed signs of continuing to rise. MACD index moved up slowly in the long area, and RSI index moved up in the narrow range in the long area;


Long short turning point: 26680


Pressing position: 26981, 27176


Support position: 26461, 26255


Trading strategy: bullish above 26680, target 26981, 27176


Alternative strategies: bearish below 26680, targets 26461, 26255

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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