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Jpn225: low weak shock down

2022-09-01
474
Fundamental analysis:


The Nikkei 225 index closed down 127.08 points, or 0.45%, at 28068.50 on Wednesday, August 31. According to official data, the quarterly industrial production in July increased by 1.0% compared with the previous month, better than the expected decline of 0.5%. Last month, industrial production grew by nearly double digits. Japan's industrial production increased for the second consecutive month in July, marking a positive start for manufacturing and broader economic activities in the third quarter.


Nikkei index jpn225 - 4-hour K-line chart shows:




Technical analysis:


According to the 4-hour chart, the power of low-level short positions has maintained a downward trend, the short-term decline has not stopped, and it is about to break the previous low level. MACD index is in the short position, and it maintains a consolidation and translation. RSI index is in the lower side of the 50 equilibrium line;


Long and short turning point: 27886


Pressing position: 27984, 28071


Support position: 27751, 27657


Trading strategy: 27886 lower bearish, target 27751, 27657


Alternative strategy: bullish above 27886, targets 27984 and 28071

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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