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JPN225: High level interval oscillation

2022-10-21
1192
Fundamental analysis:

The Nikkei 225 Index closed down 248.38 points, or 0.91%, at 27009.00 on October 20 (Thursday). According to the data of Japan's Ministry of Finance, Japan's imports in September increased 45.9% year on year, which is the 20th consecutive month of growth in Japan's imports, with a total value of 11 trillion yen, a record high. The previous month's increase was 49.9%.


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




Technical analysis:


The 4-hour chart shows: short-term entanglement, high level and narrow range shocks, market bears are waiting for opportunities to enter the market, but they are still in range consolidation, MACD indicators are hovering in the market on axis 0, and RSI indicators are in weak consolidation near the 50 equilibrium line;


Multi empty turning point: 27065


Pressing: 27179, 27289


Support: 26917, 26811


Trading strategy: 27065 lower bearish, target 26917, 26811


Alternative strategy: bullish above 27065, target 27179, 27289

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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