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JPN225: high uplink

2023-05-26
740
Fundamental analysis:

The Nikkei 225 Index closed up 95.00 points, or 0.31%, at 30788.50 points on May 25 (Thursday). Kazuo Ueda, Governor of the Bank of Japan: Our most important task is to achieve the 2% inflation target in a stable and sustainable manner. We are starting to see some good signs in the economy, but we are still some way off reaching our inflation target in a stable and sustainable way. The Bank of Japan will patiently maintain an accommodative monetary policy.

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



Brief technical analysis:

Looking at the 4-hour chart: the momentum of the high-level bulls keeps oscillating and moving upwards, the short-term bullish sentiment remains, the market bulls continue to climb, the MACD indicator is on the upper side of the 0 axis and slowly rising, and the RSI indicator is on the upper side of the 50 balance line.

Resistance: 31227 31362

Support level: 30811 30680

Trading strategy: Bullish above 30961, target 31227 31362
Alternative strategy: bearish below 30961, target 30811 30680

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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