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JPN225: High finishing

2023-02-03
973
Fundamental analysis:

The Nikkei 225 Index closed up 65.62 points, or 0.24%, at 27412.50 points on February 2 (Thursday). Masasumi Wakatabe, deputy governor of the Bank of Japan: Our commitment to easing policy has not changed in the slightest. The BOJ should now focus on pursuing the success of current policies rather than reviewing its policy framework.

The Nikkei JPN225——4-hour K-line chart shows:



Brief technical analysis:

The 4-hour chart: the high level maintains a narrow range of shocks, the market has repeatedly probed back and forth between the upper and lower ranges, the short-term bullish momentum begins to rise slowly from the high level, the MACD index is weakly finishing above the 0 axis, and the RSI index is hovering weakly above the 50 balance line;

Long-short turning point: 27413

Suppression: 27578, 27691
Support: 27305, 27198

Trading strategy: Bullish above 27413, target 27578, 27691
Alternative strategy: bearish below 27413, target 27305, 27198

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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