Wage growth in Japan this fiscal year is stronger than expected

Fundamental analysis:

The Nikkei 225 index closed down 38.89 points, or 0.14%, at 27419.00 points on Thursday, June 2. Adachi, member of the Bank of Japan: it seems that the downside risk of Japanese output is increasing, but this is offset by the recovery of family confidence. The wage growth in this fiscal year is stronger than expected, and the salary increase in the next fiscal year will be the key to whether Japan can get rid of deflation.

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

Technical comments: the upper rail section of the Bollinger belt index channel continued to fluctuate and rise, and the high level reached the node near 27775 for consolidation. The short-term Bull Power showed signs of slow oscillation and upward movement. After the Bollinger belt index showed an upward trend, the high level began to slowly open its mouth. The MACD index maintained consolidation and translation at the high level in the bull region, and the RSI index maintained consolidation and weak upward in the bull region;

Multi empty turning point: 27709

Pressing position: 27885, 27999

Support position: 27587, 27473

Trading strategy: bullish above 27709, target 27885, 27999

Alternative strategy: bearish below 27709, target 27587, 27473

The above analysis is a personal point of view and is for reference only.