The Nikkei 225 Index closed down 362.42 points, or 1.31%, at 27326.00 on September 21 (Wednesday). The widening gap between the Bank of Japan's ultra loose policy and the rapid tightening policy of other central banks around the world prompted policymakers to show that they are ready to take action to cope with the fluctuating exchange rate trend this month.
Nikkei index JPN225 - 4-hour K line chart shows:
The 4-hour chart shows that the short position in the market is in good condition. After the low position is sorted out for a short time, it drops rapidly. The short position downward trend may continue. The MACD indicator is in the short position area and remains sorted, while the RSI indicator is hovering below the 50 equilibrium line;
Empty turning point: 26935
Pressing position: 27045, 27169
Support position: 26752, 26648
Trading strategy: 26935 bearish, target 26752, 26648
Alternative strategy: bullish above 26935, target 27045, 27169