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JPN225: high climb
2023-05-19
761
Fundamental analysis:
The Nikkei 225 Index closed up 497.91 points, or 1.65%, at 30591.50 points on May 18 (Thursday). Japan's trade deficit in April was 432.4 billion yen (about 137 yen per US dollar), a year-on-year decrease of nearly 50%. This is Japan's 21 consecutive months of trade deficit.
The Nikkei JPN225——4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: The bullish momentum fluctuates and rises at a high level, the market is shrouded in bullish sentiment, and there is no sign of stopping the short-term upward momentum. The MACD indicator is in the bullish zone and continues to rise, and the RSI indicator is in the bullish zone. The overbought zone hovers above the 80 balance line;
Resistance: 31072 31120
Support level: 30686 30547
Trading strategy: Bullish above 30806, target 31072 31120
Alternative strategy: bearish below 30806, target 30686 30547
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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