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JPN225: Low position multi head lifting

2022-09-20
1165
Fundamental analysis:

The Nikkei 225 Index closed down 308.41 points, or 1.11%, at 27567.50 on September 16 (Friday). Japan's GDP in dollar terms is shrinking. If the dollar is calculated at 140 yen, Japan's nominal gross domestic product (GDP) is expected to be less than 4 trillion dollars (about 560 trillion yen) in 2022 after about 30 years, which is basically the same as Germany, which ranks fourth.


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



Technical analysis:


The 4-hour chart shows that the low bulls' power keeps surging, and the short-term bulls' sentiment starts to emerge. The MACD indicator is in the short area and finishing up, while the RSI indicator hovers below the 50 equilibrium line;


Empty turning point: 27474


Pressing position: 27603, 27684


Support position: 27393, 27304


Trading strategy: bullish above 27474, target 27603, 27684


Alternative strategy: 27474 bearish, target 27393, 27304

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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