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Jpn225: bearish weakness shocks downward

2022-09-07
509
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

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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