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JPN225: High retracement
2023-04-20
833
Fundamental analysis:
On April 19 (Wednesday), the Nikkei 225 Index closed down 69.33 points, or 0.24%, to 28589.50 points. SHIMIZU, Executive Director of the Bank of Japan: Japan's CPI growth rate may slow down to below 2% in the middle of fiscal year 2023. It is appropriate to continue to implement loose policy for the time being.
The Nikkei JPN225——4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high-level short-term dynamics fluctuate and retrace, the short-term decline may continue, the market as a whole is in a high-level downward trend, the MACD indicator is in the long-term area and the RSI indicator is hovering above the 50 balance line;
Resistance level: 28646 28727
Support level: 28442 28377
Trading strategy: bearish below 28557, target 28442 28377
Alternative strategy: call above 28557, target 28646 28727
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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