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JPN225: Narrow finishing

2023-02-21
865
Fundamental analysis:

The Nikkei 225 Index closed up 7.37 points, or 0.03%, at 27520.50 points on February 20 (Monday). The Japanese government finalized a new policy to attract talents on February 17, aiming to increase the number of high-end foreign talents working in Japan. A new system will be established for foreign technicians with an annual income of 20 million yen (approximately RMB 1.02 million) to apply for permanent residency (permanent residence) after staying in Japan for one year.

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



Brief technical analysis:

Looking at the 4-hour chart: the short-term momentum of the market continues to fluctuate and move downwards, and the short-term maintenance is in a narrow range. The market’s short-term sentiment remains, the MACD indicator is hovering weakly below the 0-axis, and the RSI indicator is in a weak order near the 50 balance line;

Long and short turning point: 27475

Compression: 27522, 27562
Support: 27416, 27379

Trading strategy: bearish below 27475, target 27416, 27379
Alternative strategy: call above 27475, target 27522, 27562

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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