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JPN225: high rise

2023-01-22
544
Fundamental analysis:

The Nikkei 225 Index closed up 132.27 points, or 0.50%, at 26537.50 points on January 20 (Friday). Japan's core CPI rose to a 41-year high of 4%, adding to market pressure on the Bank of Japan to abandon its yield curve control policy. While price increases in Japan remain modest compared with those in Europe and the United States, inflation has accelerated due to a weaker yen and rising costs of imported commodities.

The Nikkei JPN225——4-hour K-line chart shows:



Brief technical analysis:

Looking at the 4-hour chart: the momentum of the bulls fluctuates rapidly, and the short-term bullish sentiment is shrouded.

Long-short turning point: 26823

Suppression: 26923, 26991
Support: 26745, 26664

Trading strategy: Bullish above 26823, target 26923, 26991
Alternative strategy: bearish below 26823, target 26745, 26664

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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