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JPN225: High level wandering

Fundamental analysis:

The Nikkei 225 Index closed down 31.57 points, or 0.11%, at 27899.00 on November 18 (Friday). Japan's core consumer inflation rate reached a 40 year high of 3.6% in October. Kuroda said that the inflation rate is rising significantly, but as the impact of soaring fuel and raw material costs dissipates, the inflation rate may return to below 2% in the next fiscal year.

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

Technical analysis:

The 4-hour chart shows that the power of high short positions remains weak and moves downward. In the short term, it is hovering. The market short positions show signs of waiting for an opportunity to enter the market. The MACD index is in the weak position near the 0 axis and the RSI index is in the weak position near the 50 equilibrium line;

Empty turning point: 27968

Pressing: 28080, 28158

Support: 27,849, 27,765

Trading strategy: 27,968 lower bearish, target 27,849, 27,765

Alternative strategy: 27968 upper bullish, target 28080, 28158

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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