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JPN225: high rise

2023-05-07
541
Fundamental analysis:

The Nikkei 225 Index closed up 278.06 points, or 0.96%, at 29134.50 points on May 1 (Monday). After a few days of rest, the Nikkei rose strongly. South Korea and Japan are conducting final coordination and communication on the meeting between South Korean President Yoon Seok-yue and Japanese Prime Minister Fumio Kishida at the Yongsan Presidential Palace in Seoul on the 7th. The two sides are discussing plans to simultaneously announce Fumio Kishida's visit to South Korea and the schedule of the South Korea-Japan summit meeting tomorrow.

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



Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum is strong and rising, the short-term bullish sentiment is still there, and there is no sign of final stop, the MACD indicator is hovering on the upper side of the 0 axis, and the RSI indicator is in a weak order on the upper side of the 50 balance line;

Resistance: 29160 29227

Support level: 28983 28920

Trading strategy: Bullish above 29055, target 29160 29227
Alternative strategy: bearish below 29055, target 28983 28920

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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