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JPN225: Narrow shock

2023-02-19
941
Fundamental analysis:

On February 17 (Friday), the Nikkei 225 Index closed down 204.44 points, or 0.74%, to 27492.00 points. Japanese Finance Minister Shunichi Suzuki: When nominating candidates for the Bank of Japan, he took into account two factors: structural wage increases and sustainable and stable achievement of inflation targets. The government sees Kazuo Ueda as the best candidate to head the Bank of Japan.

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



Brief technical analysis:

Looking at the 4-hour chart: the downward trend of bearishness remains, and the short-term lows are pulled up after finishing, and the market’s bearish sentiment begins to weaken. The MACD indicator is finishing below the 0 axis, and the RSI indicator is hovering below the 50 balance line;

Long and short turning point: 27520

Suppression: 27562, 27604
Support: 27456, 27416

Trading strategy: bearish below 27520, target 27456, 27416
Alternative strategy: call above 27520, target 27562, 27604

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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