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JPN225: Shocking retracement

Fundamental analysis:
The Nikkei 225 Index closed up 219.25 points, or 0.84%, at 26454.50 points on December 27 (Tuesday). Market news: Japan's top banker expects Japan's negative interest rate policy to remain in place as the Bank of Japan roils markets. The yield on Japan's 20-year government bond rose to levels last seen when the Bank of Japan made unlimited bond purchases.

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

Brief technical analysis:
The 4-hour chart: The low-level bulls gapped and opened high, and the market’s short-seller sentiment showed signs of waiting for an opportunity to enter the market, but the overall trend was upward and reversed. The MACD indicator was hovering below the 0 axis, and the RSI indicator was hovering weakly below the 50 balance line ;
Long-short turning point: 26154
Compression: 26329, 26456
Support: 26001, 25876
Trading strategy: Bullish above 26154, target 26329, 26456
Alternative strategy: bearish below 26154, target 26001, 25876

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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