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JPN225: Short position moves down

Fundamental analysis:

On March 10 (Friday), the Nikkei 225 Index closed down 480.65 points, or 1.68%, to 28142.50 points. Haruhiko Kuroda, Governor of the Bank of Japan: The Japanese economy is recovering, but the uncertainty is very high. We will not hesitate to ease monetary policy further if necessary. Interest rates are expected to remain at current low levels or lower.

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

Brief technical analysis:

Looking at the 4-hour chart: the bears continue to move down, the short-term decline has not stopped, the market as a whole is in a bearish downward trend, the MACD indicator is in the bearish zone and continues to decline, and the RSI indicator is in the bearish zone and oscillates;

Resistance level: 27710 27799

Support level: 27506 27432

Trading strategy: bearish below 27630, target 27506 27432
Alternative strategy: call above 27630, target 27710 27799

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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