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JPN225: Multi head rapid lifting

2022-10-14
1136
Fundamental analysis:

The Nikkei 225 Index closed 148.33 points lower, or 0.56%, at 26248.50 on October 13 (Thursday). The Bank of Japan's quarterly survey showed that the ratio of Japanese households expected to see prices rise in the next year fell to 85.7% from 87.1% in June.



Nikkei index JPN225 - 4-hour K line chart shows:




Technical analysis:


The 4-hour chart shows that after the narrow range consolidation of the low position, the low position of the bulls' power rapidly rose, and short-term bullish sentiment began to emerge. The MACD indicator remained in the short position area and moved upward to hover around the 0 axis, while the RSI indicator was in the 50 equilibrium line of market consolidation;


Empty turning point: 26732


Pressing: 26898, 26999


Support: 26614, 26503


Trading strategy: bullish above 26732, target 26898, 26999


Alternative strategy: 26732 bearish, target 26614, 26503

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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