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JPN225: Move up the high position

2023-05-14
846
Fundamental analysis:

The Nikkei 225 Index closed up 276.78 points, or 0.95%, at 29403.50 points on May 12 (Friday). Japan's core CPI may have accelerated again in April as a string of retail price increases offset the impact of government energy subsidies.

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



Brief technical analysis:

Looking at the 4-hour chart: the bullish dynamics have moved up after a high level of shock, and they will continue to move upward in the short term. The market’s bullish sentiment remains, the MACD indicator is in the bullish zone and is rising slowly, and the RSI indicator is in the bullish zone for high-level consolidation;

Resistance: 29628 29707

Support level: 29450 29379

Trading strategy: Bullish above 29524, target 29628 29707
Alternative strategy: bearish below 29524, target 29450 29379

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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