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JPN225: bearish weakness moves downward

2022-09-26
1212
Fundamental analysis:

The Nikkei 225 Index closed at 27153.83 on Thursday, down 0.58%. The Bank of Japan announced that it would keep negative interest rates unchanged. It is worth observing whether the intervention of the Bank of Japan can last. According to historical cases, the intervention of the Bank of Japan is often regarded by the market as a good opportunity to enter the market.



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




Technical analysis:


The 4-hour chart shows that the momentum of short positions has kept moving downward, and the short-term decline of low positions has not stopped. The short positions in the market are in a good mood and continue to move downward in the short term. The MACD indicator hovers in the short positions area, and the RSI indicator is in the short positions area, such as search and sorting;


Empty turning point: 26462


Pressing position: 26596, 26726


Support position: 26264, 26154


Trading strategy: 26462 lower bearish, target 26264, 26154


Alternative strategy: bullish above 26462, target 26596, 26726

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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