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JPN225: rapid decline

2023-01-16
923
Fundamental analysis:
On January 13 (Friday), the Nikkei 225 Index closed down 361.32 points, or 1.37%, to 26088.50 points. Japan's Chief Cabinet Secretary Hiroichi Matsuno officially announced on the same day that Japan's usual parliament will be held on January 23. The 150-day meeting will end on June 21 if there is no extension.

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



Brief technical analysis:

Looking at the 4-hour chart: the short-term momentum has fallen sharply, the short-term decline may continue, the market as a whole is in a bearish downward trend, the MACD indicator is in the bearish zone and slowly moving down, and the RSI indicator is in the bearish zone for consolidation;
Long-short turning point: 25802

Suppression: 25874, 25939
Support: 25704, 25642

Trading strategy: bearish below 25802, target 25704, 25642
Alternative strategy: call above 25802, target 25874, 25939

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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