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JPN225: Bear step down
2022-10-12
1153
Fundamental analysis:
The Nikkei 225 Index closed down 716.61 points, or 2.64%, at 26399.50 on October 11 (Tuesday). According to the balance of payments data released by Japan on Tuesday, Japanese investors became net buyers of US sovereign bonds in August, the first time in 10 months. After selling a net 15.7 trillion yen of US sovereign bonds in the previous nine months, Japanese funds bought 565 billion yen in August.
Nikkei index JPN225 - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the bearish power maintains a downward step of shock, and the short-term decline may continue. The market bearish sentiment is shrouded. The MACD indicator hovers under the 0 axis, and the RSI indicator is weak under the 50 equilibrium line;
Empty turning point: 26408
Pressing: 26550, 26689
Support: 26233, 26115
Trading strategy: 26408 lower bearish, target 26233, 26115
Alternative strategy: bullish above 26408, target 26550, 26689
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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