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Jpn225: bearish weakness shocks downward
2022-09-07
1120
Fundamental analysis:
The Nikkei 225 index closed down 6.11 points, or 0.02%, at 27613.50 on Tuesday, September 6. With the COVID-19 epidemic heating up again, Japan's household expenditure continued to grow for the second consecutive month in July, from a decline in real wages to a contraction in service industry activities. The data released this week showed that private consumption stagnated, weakening some of the achievements made in April June.
Nikkei index jpn225 - 4-hour K-line chart shows:
Technical analysis:
From the 4-hour chart, the low short power maintains a narrow consolidation and slow decline, the low weakness continues, and there is no sign of stopping. The MACD indicator maintains consolidation in the short area, and the RSI indicator hovers in the short area below the 50 equilibrium line;;
Long short turning point: 27374
Pressing position: 27494, 27598
Support position: 27214, 27123
Trading strategy: 27374 bearish, target 27214, 27123
Alternative strategy: bullish above 27374, target 27494, 27598
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