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JPN225: Move up the high position

2023-06-02
778
Fundamental analysis:

The Nikkei 225 Index closed up 234.62 points, or 0.76%, at 31122.50 points on June 1 (Thursday). Japanese companies boosted factory and equipment spending at the fastest pace since 2015 in the January-March period, led by a recovery in auto output and chipmaking, as well as investment in services in real estate, reflecting modest economic growth.

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



Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum is moving up strongly, short-term bullish sentiment is shrouded, the bulls in the market continue to rise, the MACD index maintains the shock and moves up to the 0 axis and hovers weakly, and the RSI index is weakly finishing above the 50 balance line;

Resistance level: 31524 31651

Support level: 31178 31047

Trading strategy: Bullish above 31317, target 31524 31651
Alternative strategy: bearish below 31317, target 31178 31047

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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