Jpn225: bearish weakness shocks downward

Fundamental analysis:

The Nikkei 225 index closed down 123.75 points, or 0.43%, at 28329.00 on Wednesday, August 24. Japanese Prime Minister Fumio Kishida held a press conference by video today, saying that in order to reduce the burden of medical institutions and health centers, the government will adjust the COVID-19 response policy. Local governments in Japan can make their own judgment and change the current practice of reporting information on all patients with covid-19 to only report patients with high risk of severe illness. Meanwhile, they will consider shortening the isolation time of infected people at home.

Nikkei index jpn225 - 4-hour K-line chart shows:

Technical analysis:

According to the 4-hour chart, the high short power maintains the slow downward trend of narrow range consolidation, the market short power enters the market, and there is a trend of continuous downward movement in the short term. The MACD index is at the lower side of the 0 axis for consolidation, and the RSI index is at the lower side of the 50 equilibrium line;

Long and short turning point: 28510

Pressing position: 28636, 28762

Support position: 28325, 28218

Trading strategy: 28510 down bearish, target 28325, 28218

Alternative strategy: bullish above 28510, targets 28636 and 28762