JPN225: Low level interval vibration moves downward

Fundamental analysis:

The Nikkei 225 Index closed down 552.55 points, or 2.09%, at 25869.50 on September 30 (Friday). Nikkei 225 fell 7.91% in September, a new record since March 2020. The construction of new housing in Japan in August increased 4.6% year on year, while the market expected a decline of 4.1%; It is reported that Tokyo will join the national travel subsidy plan on October 20; Japanese government officials said that the chip production was seriously affected by the decline in memory production due to the decline in demand for smartphones and personal computers.

Nikkei index JPN225 - 4-hour K line chart shows:

Technical analysis:

The 4-hour chart shows that the bearish power keeps moving downward, and there are signs of continuing to move downward after the low short-term interval shocks. The MACD indicator hovers at the lower side of the 0 axis, and the RSI indicator is at the lower side of the 50 equilibrium line;

Empty turning point: 26000

Pressing position: 26178, 26372

Support position: 25760, 25608

Trading strategy: bearish at 26000, target 25760, 25608

Alternative strategy: bullish above 26000, target 26178, 26372