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JPN225: range shock

2023-02-02
929
Fundamental analysis:

The Nikkei 225 Index closed up 29.39 points, or 0.11%, at 27356.50 points on February 1 (Wednesday). The Bank of Japan bought a record 23.69 trillion yen ($182 billion) of government bonds in January, underscoring the bank's determination to defend the yield ceiling against bets it will raise interest rates in the near term attacks by investors.

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



Brief technical analysis:

Looking at the 4-hour chart: the high short-term range fluctuates, the market as a whole is in a narrow range, and there is no sign of breaking through this range in the short term, the MACD indicator is hovering weakly on the upper side of the 0 axis, and the RSI indicator is in a narrow range near the 50 balance line;

Long-short turning point: 27413

Suppression: 27578, 27691
Support: 27305, 27198

Trading strategy: Bullish above 27413, target 27578, 27691
Alternative strategy: bearish below 27413, target 27305, 27198

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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