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JPN225: Bears plunge
2022-12-02
1125
Fundamental analysis:
The Nikkei 225 Index closed up 270.51 points, or 0.97%, at 28239.50 points on December 1 (Thursday). Bank of Japan member Asahi Noguchi: The Japanese public's view that prices will not rise sharply has begun to change. Wages would have to rise around 3 percent to hit the BOJ's 2 percent inflation target. It is hard to say now in what order the BOJ will adjust its monetary tools if it exits its easing.
The Nikkei JPN225——4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term momentum has fallen sharply, and the short-term decline may continue. The MACD indicator is hovering around the 0 axis, and the RSI indicator is weakly finishing below the 50 balance line;
Long-short turning point: 28071
Suppression: 29119, 28171
Support: 27996, 27950
Trading strategy: bearish below 28071, target 27996, 27950
Alternative strategy: call above 28071, target 29119, 28171
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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