Fundamental analysis:
The Nikkei 225 index closed down 85.81 points, or 0.33%, at 26160.50 points on Wednesday, June 22. Members unanimously agreed that the position of the Bank of Japan remained unchanged, that is, it would not hesitate to take additional easing measures when necessary, and one member said that the rising cost of raw materials would damage the economy, so a strong monetary easing policy must be maintained.
Nikkei index jpn225 - 4-hour K-line chart display:
Technical analysis:
According to the 4-hour chart, the low-level Bull Power moved up in a short-term shock to the node near the upper rail of the Bollinger belt index and retreated in case of resistance. The short-term bear power waited for the opportunity to enter. The Bollinger belt index continued to move up in a closing trend and began to sort out. The MACD index was in a weak position near the 0 axis, and the RSI index was in a narrow range near the 50 equilibrium line;
Long short turning point: 26288
Pressing position: 26464, 26629
Support position: 26035, 25844
Trading strategy: bearish below 26288, target 26035, 25844
Alternative strategy: bullish above 26288, targets 26464 and 26629