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JPN225: Low order finishing

2023-02-23
905
Fundamental analysis:

The Nikkei 225 Index closed down 360.60 points, or 1.31%, at 27112.50 points on February 22 (Wednesday). Naoki Tamura, member of the Bank of Japan: At some point in the future, the current policy will need to be re-examined. It is appropriate to continue to implement loose policy now. More time will be needed to measure the impact of the measures taken by the Bank of Japan on the market function. We are now in In this stage, we need to carefully observe whether Japan will realize a virtuous circle of wage-price spiral.

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



Brief technical analysis:

Looking at the 4-hour chart: the short-term momentum continues to move downwards, the short-term decline has not stopped, the market is shrouded in bearish sentiment, the MACD indicator is in the bearish area and continues to move down, and the RSI indicator is in the bearish area and hovering at a low level;

Long and short turning point: 27033

Suppression: 27083, 27136
Support: 26952, 26909

Trading strategy: bearish below 27033, target 26952, 26909
Alternative strategy: call above 27033, target 27083, 27136

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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