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JPN225: Move down the high position

2023-05-24
627
Fundamental analysis:

The Nikkei 225 Index closed down 109.32 points, or 0.35%, at 30977.50 points on May 23 (Tuesday). Japan's inflation-adjusted real wages fell by the most in eight years in fiscal 2022, as rising costs of living outpaced increases in nominal wages. Nominal wages rose 1.9 per cent in the last financial year to March, the fastest pace in 31 years, but below inflation of 3.8 per cent, leading to a 1.8 per cent fall in real wages in fiscal 2022.

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



Brief technical analysis:

Looking at the 4-hour chart: After the high-level short-term momentum has fallen rapidly, it is sorted out, the market is shrouded in bearish sentiment, and it will continue to move downward in the short term.

Resistance level: 30903 31063

Support level: 30509 30371

Trading strategy: bearish below 30745, target 30509 30371
Alternative strategy: call above 30745, target 30903 31063

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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