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JPN225: high shock

2023-04-23
856
Fundamental analysis:

On April 21 (Friday), the Nikkei 225 Index closed down 75.00 points, or 0.26%, to 28564.50 points. Japan's flash manufacturing PMI rose to 49.5 in April from 49.2 in March, shrinking at the slowest pace in six months as sales slumped at a slower pace, while the services sector remained solid, pointing to an uneven recovery from the coronavirus pandemic .

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



Brief technical analysis:

Looking at the 4-hour chart: In the short-term trend of high levels maintaining a rectangular range of shocks, the market bulls are looking for opportunities to break through again, the MACD indicator is hovering above the 0 axis, and the RSI indicator is on the side of the 50 balance line.

Resistance level: 28727 28812

Support level: 28550 28474

Trading strategy: Bullish above 28625, target 28727 28812
Alternative strategy: bearish below 28625, target 28550 28474

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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