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JPN225: concussion rising

2022-10-31
1147
Fundamental analysis:

The Nikkei 225 Index closed down 240.74 points, or 0.88%, at 27104.50 on October 28 (Friday). The Bank of Japan maintained ultra-low interest rates on Friday and maintained its dove policy guidance. It remained independent in the global wave of central bank tightening, because the fear of economic recession weakened the expectation of a stable economic recovery.


Nikkei index JPN225 - 4-hour K line chart shows:




Technical analysis:


The 4-hour chart shows that the bulls' momentum has risen strongly, and the short-term bullish trend of the high level may continue. The early high level is close to breaking, the MACD indicator hovers on the top of the 0 axis, and the RSI indicator is in the 50 balanced online weak sorting;


Empty turning point: 27,473


Pressing: 27606, 27702


Support: 27373, 27277


Trading strategy: bullish above 27473, target 27606, 27702


Alternative strategy: 27473 bearish, target 27373, 27277

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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