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JPN225: Shocking retracement

2022-11-29
1109
Fundamental analysis:
On November 28 (Monday), the Nikkei 225 Index closed down 148.53 points, or 0.53%, to 28134.50 points. Haruhiko Kuroda, Governor of the Bank of Japan: The tightening labor market will help drive future wage increases, upward pressure on wages is expected to gradually increase, there is no need to review the respective roles of the government and the Bank of Japan in the 2013 joint statement, it is difficult Make real wage growth a monetary policy objective.


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



Brief technical analysis:
Looking at the 4-hour chart: the high-level short-term dynamics fluctuate and retreat, the short-term decline may continue, the market short-term situation is good, the MACD indicator short-term dynamics maintains shocks and moves down to hover around the 0 axis, and the RSI indicator is weakly organized below the 0 axis;
Long-short turning point: 28108
Suppression: 28177, 28246
Support: 28010, 27939
Trading strategy: bearish below 28108, target 28010, 27939
Alternative strategy: call above 28108, target 28177, 28246

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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