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JPN225: Short position moves down
2023-01-20
968
Fundamental analysis:
The Nikkei 225 Index closed down 400.62 points, or 1.50%, at 26390.50 points on January 19 (Thursday). Japan's trade deficit narrowed in December as exports grew relatively solidly, while a stronger yen and lower energy prices helped reduce import bills. Japan's Ministry of Finance data released on Thursday showed Japan's trade deficit narrowed to 1.45 trillion yen ($11.3 billion), falling below 2 trillion yen for the first time in five months.
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 downward, the short-term decline may continue, the market is shrouded in bearish sentiment, the MACD indicator is in the bullish area, and the RSI indicator is hovering weakly on the side of the 50 balance line;
Long and short turning point: 26368
Suppression: 26449, 26523
Support: 26244, 26158
Trading strategy: bearish below 26368, target 26244, 26158
Alternative strategy: call above 26368, target 26449, 26523
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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