JPN225: bearish shock downward

Fundamental analysis:

The Nikkei 225 Index closed up 266.52 points, or 1.02%, at 26440.50 on September 29 (Thursday). According to the forecast of changes in the balance of current accounts of financial institutions in the Bank of Japan and the information related to the money market, it is estimated that the Bank of Japan spent about 3.6 trillion yen (about 25 billion dollars) on the last intervention in the foreign exchange market, and Japan is expected to intervene in the foreign exchange market up to 10 times.

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

Technical analysis:

The 4-hour chart shows that the short power continues to move downward, and the low position moves downward again after a short-term wide shock. The MACD indicator is maintained in the short position area, and the RSI indicator hovers in a narrow range below the 50 equilibrium line;

Empty turning point: 26255

Pressing position: 26443, 26637

Support position: 25980, 25811

Trading strategy: 26255 lower bearish, target 25980, 25811

Alternative strategy: bullish above 26255, target 26443, 26637