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Nikkei: high retreat

2022-07-12
1207
Fundamental analysis:

The Nikkei 225 index closed up 286.31 points, or 1.08%, at 26803.50 points on Monday, July 11. Japanese Prime Minister Fumio Kishida: there is no contradiction between the short-term fiscal stimulus policy and the medium and long-term fiscal reform. The government will first use the foreign exchange reserves, and then consider what further measures need to be taken to promote the proposal as soon as possible.



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




Technical analysis:


According to the 4-hour chart, the Bull Power maintained a shock rise, the high level retreated in the short term, and the short power waited for the opportunity to enter. The MACD index was in the bull region to maintain a weak consolidation, and the RSI index was in the bull region to maintain a downward consolidation;


Long short turning point: 26680


Pressing position: 26894, 27138


Support position: 26404, 26149


Trading strategy: bearish below 26680, targets 26404, 26149


Alternative strategies: bullish above 26680, targets 26894, 27138

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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