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JPN225: Low order finishing
2022-12-22
1046
Fundamental analysis:
The Nikkei 225 Index closed down 188.53 points, or 0.71%, at 26379.50 points on December 21 (Wednesday). The Bank of Japan governor's policy tweak to yield curve control (YCC) could be the first step toward an exit from ultra-loose monetary policy. There are growing signs that inflation is likely to remain above the BOJ's 2% target as cost drivers drive an aggressive price mechanism based on higher wages and stronger consumption.
The Nikkei JPN225——4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: After the short-term momentum fluctuated downward, the low-level and narrow-range consolidation, the market's short-term sentiment is still weak, the MACD indicator is in the low-level consolidation in the short-selling area, and the RSI indicator is hovering at the low-level in the short-selling area;
Long-short turning point: 26428
Suppression: 26569, 26711
Support: 26228, 26099
Trading strategy: bearish below 26428, target 26228, 26099
Alternative strategy: call above 26428, target 26569, 26711
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