CM Trade

Download APP to receive bonus

GET

JPN225: bearish weakness moves down

2022-10-13
1109
Fundamental analysis:

The Nikkei 225 Index closed down 6.25 points, or 0.02%, at 26395.00 on October 12 (Wednesday). Japan reopened visa free free travel yesterday, and retail, consumer services and transportation stocks strengthened. Japan's core machinery orders in August fell 5.8% month on month, expected to fall 2.8%.



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




Technical analysis:


The 4-hour chart shows that the power of high short positions and weak positions has slowly declined, the short-term decline has begun to weaken, and the short positions in the market remain unchanged. The MACD index hovers under the 0 axis, and the RSI index is narrow 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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar

More