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JPN225: High finishing

2023-02-07
927
Fundamental analysis:

The Nikkei 225 Index closed up 159.90 points, or 0.58%, at 27671.50 points on February 6 (Monday). Both look set to move higher amid expectations the BOJ will continue to support growth as it did under Haruhiko Kuroda, with JGB yields continuing to be capped by the BOJ's yield curve control.

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



Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum is finishing after a high level of volatility and rising, the market is still bullish, and there is a short-term trend of continuing to consolidate and rise. The MACD indicator is in the bullish area to maintain consolidation, and the RSI indicator is hovering weakly on the side of the 50 balance line;

Long-short turning point: 27612

Suppression: 27756, 27851
Support: 27500, 27402

Trading strategy: Bullish above 27612, target 27756, 27851
Alternative strategy: bearish below 27612, target 27500, 27402

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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