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JPN225: Collate Move Down
2022-11-18
1146
Fundamental analysis:
The Nikkei 225 Index closed down 90.30 points, or 0.32%, at 27938.00 on November 17 (Thursday). Bank of Japan Governor Kuroda: The current inflation is driven by costs. The Bank of Japan will continue to firmly support the economy through easing policies. We need to achieve stable inflation accompanied by wage growth. Achieving a sustainable and stable inflation target is possible, although it may take time.
Nikkei index JPN225 - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the high level consolidation moves slowly downward, and the market bearish sentiment starts to show signs of opportunistic entry. The MACD indicator hovers around the 0 axis, and the RSI indicator is in the weak consolidation near the 50 equilibrium line;
Empty turning point: 27968
Pressing: 28080, 28158
Support: 27849, 27765
Trading strategy: 27968 lower bearish, target 27849, 27765
Alternative strategy: 27,968 upper bullish, target 28,080, 28,158
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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