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JPN225: Shocking retracement
2023-03-19
958
Fundamental analysis:
The Nikkei 225 Index closed up 296.89 points, or 1.10%, at 27307.50 points on March 17 (Friday). Haruhiko Kuroda, Governor of the Bank of Japan: It is theoretically impossible to determine how far the negative interest rate policy can go. Short-term interest rates could be lowered further, but the magnitude of the reduction could not be disclosed. Haruhiko Kuroda, Governor of the Bank of Japan: I believe there is still room for interest rates to be lowered below -0.1%.
The Nikkei JPN225——4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the low-level long-term dynamic shock moved up and then retreated when encountering resistance. The short-term sentiment began to wait for an opportunity to enter the market and move down. In the short term, it will continue to move downward. wandering;
Resistance level: 26905 27045
Support level: 26577 26453
Trading strategy: bearish below 26760, target 26577 26453
Alternative strategy: call above 26760, target 26905 27045
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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