JPN225: high rise

The Nikkei 225 Index closed up 287.00 points, or 0.99%, at 29245.50 points on May 9 (Tuesday). According to the results of the 2022 household income and expenditure survey released by the Ministry of Internal Affairs and Communications of Japan on the 9th, the average monthly consumption expenditure of a household with two or more people is 293,671 yen (about 15,000 yuan), which actually increased by 0.7 compared with the previous year after excluding price changes. %, increasing for two consecutive years. The nominal increase was 4.5%, the highest since 2001, when comparable data was available.

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

Looking at the 4-hour chart: the bullish momentum is rising at a high level, the short-term bullish sentiment remains, the bullish momentum in the market continues to rise, and it is about to break through the previous high node, the MACD indicator is in the bullish area, and the RSI indicator is in a weak order on the side of the 50 balance line;

Resistance: 29280 29342

Support level: 29108 29034

Trading strategy: Bullish above 29178, target 29280 29342

Alternative strategy: bearish below 29178, target 29108 29034