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JPN225: Narrow shock

2023-01-04
553
Fundamental analysis:
On December 30 (Friday), the Nikkei 225 Index closed down 10.17 points, or 0.04%, to 26083.50 points. With Kishida appearing to be reversing Abe's reflationary economic policies, speculation has grown over Yamaguchi's potential. If appointed as governor, the other two candidates, Masaka Amamiya and Hiroshi Nakaso, are not expected to make any major changes to current monetary policy. The Bank of Japan conducted unscheduled bond purchases for a third day in a row, countering speculation that an end to its ultra-loose monetary policy is imminent.


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



Brief technical analysis:
Looking at the 4-hour chart: the low volatility is within a narrow range, the volatility space is narrowed, the market’s bearish sentiment remains, the MACD indicator is in the bearish area, and the RSI indicator is hovering weakly below the 50 balance line;
Long and short turning point: 25815
Press: 25970, 26119
Support: 25605, 25417
Trading strategy: bearish below 25815, target 25605, 25417
Alternative strategy: call above 25815, target 25970, 26119

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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