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JPN225: High level pulling back

2022-10-07
1132
Fundamental analysis:

The Nikkei 225 Index closed up 198.47 points, or 0.73%, at 27319.00 on October 6 (Thursday). The Bank of Japan raised the assessment of one of Japan's nine regions (economy), while the assessment of the remaining eight regions remained unchanged. The Bank of Japan said that the economy in many regions has recovered moderately.



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




Technical analysis:


The 4-hour chart shows that the bullish power has maintained a continuous upward trend of shock, and the short power has retreated after the high short-term obstacles, and the short-term decline may continue. The MACD index is at the high level of the bullish region, and the RSI index is at the 50 balanced online weak side;


Empty turning point: 27049


Pressing: 27197, 27346


Support: 26841, 26695


Trading strategy: 27049 lower bearish, target 26841, 26695


Alternative strategy: bullish above 27049, target 27197, 27346

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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