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JPN225: Shock down

2023-05-11
858
Fundamental analysis:

The Nikkei 225 Index closed down 108.32 points, or 0.37%, at 29134.50 points on May 10 (Wednesday). According to statistics released by the Japanese Ministry of Finance on the same day, as of the end of March 2023, the total debt of the Japanese central government's national debt, government loans, and government short-term securities reached 127,049,900 billion yen, a record high.

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



Brief technical analysis:

Looking at the 4-hour chart: the high-level short-term dynamics are oscillating downward, and the short-term decline may continue. The market as a whole is in the downward trend of short positions. The MACD indicator is in the long zone and is slowly finishing down. The RSI indicator is hovering around the 50 balance line;

Resistance: 29152 29219

Support level: 28963 28893

Trading strategy: Bearish below 29076, target 28963 28893
Alternative strategy: call above 29076, target 29152 29219

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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