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JPN225: high shock

2023-03-02
901
Fundamental analysis:

The Nikkei 225 index closed up 60.94 points, or 0.22%, at 27506.50 points on March 1 (Wednesday). Junko Nakagawa, Bank of Japan review member: Our goal is a positive economic cycle accompanied by higher wages. We hope to see more effects from the December policy adjustment in the market. Various data must be seen when measuring price trends.

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



Brief technical analysis:

Looking at the 4-hour chart: high short-term wide fluctuations, the market as a whole is in the range consolidation, the bullish momentum shows signs of maintaining high consolidation, the MACD indicator is in the bull zone to maintain consolidation, and the RSI indicator is hovering above the 50 balance line;

Long-short turning point: 27437

Suppression: 27507, 27547
Support: 27393, 27347

Trading strategy: Bullish above 27437, target 27507, 27547
Alternative strategy: bearish below 27437, target 27393, 27347

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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