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JPN225: Narrow range weak sorting

2022-09-15
1119
Fundamental analysis:

The Nikkei 225 Index closed down 784.13 points, or 2.74%, at 27830.50 on September 14 (Wednesday). The yield of 10-year Japanese government bonds rose to 0.25%, which is at the upper end of the policy range of the Bank of Japan. Previously, the Bank of Japan planned to increase bond purchases in its regular operations.



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




Technical analysis:


The 4-hour chart shows that the power of high short positions has fallen rapidly, and the short-term weak position has begun to be sorted out. The market short position sentiment remains unchanged. The MACD indicator is weak and hovering under the 0 axis, and the RSI indicator is narrow and sorted under the 50 equilibrium line;


Multi empty turning point: 27780


Pressing position: 27894, 28004


Support position: 27598, 27488


Trading strategy: bearish at 27780, target 27598, 27488


Alternative strategy: bullish above 27780, target 27894, 28004


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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