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JPN225: High level oscillation

2022-11-22
1098
Fundamental analysis:

The Nikkei 225 Index closed up 34.73 points, or 0.12%, at 27934.50 on November 21 (Monday). The Japanese government submitted the second supplementary budget for fiscal year 2022 with a total general accounting amount of about 28.9 trillion yen to the Congress on the same day. The relevant funds will be used for economic countermeasures such as coping with high prices.


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




Technical analysis:

The 4-hour chart shows that the high level maintains a narrow range of shock and translation in the short term, the market gradually emerges and moves upward, and the short-term bullish mood is shrouded. The MACD indicator hovers on the top of the 0 axis, and the RSI indicator is on the top of the 50 equilibrium line;

Empty turning point: 28001

Pressing: 28127, 28209

Support: 27924, 27849

Trading strategy: 28001 top bullish, target 28127, 28209

Alternative strategy: 28001 bearish, target 27924, 27849

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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