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Nikkei: rising continuously

2022-07-20
1194
Fundamental analysis:

The Nikkei 225 index closed up 164.03 points, or 0.61%, at 26952.50 points on Tuesday, July 19. Reuters survey: Japan's GDP growth rate is expected to fall to 1.9% in fiscal 2022 and 1.6% in fiscal 2023 (2.2% and 1.6% in June survey). Japan's core CPI growth is expected to be 2.1% in fy2022 and 1.1% in fy2023 (the same as the survey in June).


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




Technical analysis:


According to the 4-hour chart, the bull momentum maintained a volatile upward trend, and there was no sign of stopping in the short term. MACD index was at the high level of the bull region, and RSI index was at the high level of the bull region to maintain the consolidation and hover;


Long short turning point: 27316


Pressing position: 27538, 27665


Support position: 27208, 27094


Trading strategy: bullish above 27316, targets 27538, 27665


Alternative strategies: bearish below 27316, goals 27208, 27094

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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