Jpn225: low weak shock down

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