CM Trade

Download APP to receive bonus

GET

Nikkei: weakness moves down

2022-07-01
1179
Fundamental analysis:

The Nikkei 225 index closed down 422.10 points, or 1.57%, at 26382.50 points on Thursday, June 30. Goldman Sachs economists believe that Japan's core CPI is likely to rise to 3% by the end of 2022. The inflation rate gap between enterprise commodity prices and CPI has expanded to a level "comparable to that during the oil crisis (1979-1980)". It is expected that the overall cost rise of enterprises will be reflected in the lagging price correction, thus pushing up CPI.



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




Technical analysis:


According to the 4-hour chart, the short power continued to fluctuate and descend near the brin belt index, the brin belt index continued to open its mouth, the short power of MACD index continued to fluctuate and descend to the lower side of the 0 axis, and the RSI index was under the 50 equilibrium line;


Multi empty turning point: 26464


Pressing position: 26634, 26825


Support position: 26211, 26051


Trading strategy: 26464 down bearish, target 26211, 26051


Alternative strategy: bullish above 26464, target 26634, 26825

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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar

More