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JPN225: High level oscillation moves up
2022-10-19
1113
Fundamental analysis:
The Nikkei 225 Index closed up 389.71 points, or 1.46%, at 27165.50 on October 18 (Tuesday). Bank of Japan Governor Kuroda: The Bank of Japan's easing policy has had an impact on ending deflation. He does not intend to resign as governor of the Bank of Japan. The QQE policy is not a failure, because it helps stimulate growth and create jobs. It is not considered to change the economic policy agreement between the government and the Bank of Japan.
Nikkei index JPN225 - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the bulls' momentum has kept surging, and there are signs of continued upward movement after short-term narrow shocks at the high level. The MACD indicator is maintained in the bulls' area, and the RSI indicator is hovering on the weak side above the 50 equilibrium line;
Empty turning point: 27129
Pressing: 27289, 27403
Support: 27018, 26917
Trading strategy: bullish above 27129, target 27289, 27403
Alternative strategy: 27129 bearish, target 27018, 26917
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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