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JPN225: Move up the high position

2023-02-06
927
Fundamental analysis:

The Nikkei 225 Index closed up 106.45 points, or 0.39%, at 27508.50 points on February 3 (Friday). Japanese Finance Minister Shunichi Suzuki: We will continue to aim to achieve a basic balance in fiscal year 2025. It cannot be said that the current low yields will last forever.

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



Brief technical analysis:

Looking at the 4-hour chart: the high level is maintained for a short period of time and then slowly rises. The market is still bullish, but it is weak. The MACD indicator is hovering on the 0-axis and the RSI indicator is on the 50 balance line.

Long-short turning point: 27523

Suppression: 27691, 27803
Support: 27402, 27281

Trading strategy: Bullish above 27523, target 27691, 27803
Alternative strategy: bearish below 27523, target 27402, 27281

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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