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JPN225: bearish downside

2022-09-28
1129
Fundamental analysis:

The Nikkei 225 Index closed up 152.95 points, or 0.58%, at 26584.50 on September 27 (Tuesday). Japan's 30-year bond yield rose to 1.42%, a new high since September 2015; Under the pressure of rising long-term bond yields, the Bank of Japan announced unplanned bond purchases: purchase 100 billion yen of 10-25 year Japanese bonds and 150 billion yen of 5-10 year Japanese bonds.



Nikkei index JPN225 - 4-hour K line chart shows:




Technical analysis:


The 4-hour chart shows that the short market momentum maintains a narrow range of consolidation and slowly declines, the short-term decline has not stopped, and there is a trend of further downward movement. The MACD indicator remains weak in the short region and the RSI indicator remains narrow in the short region;


Empty turning point: 26238


Pressing position: 26376, 26504


Support position: 26055, 25921


Trading strategy: 26238 lower bearish, target 26055, 25921


Alternative strategy: bullish above 26238, target 26376, 26504

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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