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Jpn225: short power drops rapidly

2022-08-29
1162
Fundamental analysis:

The Nikkei 225 index closed up 156.49 points, or 0.55%, at 28635.50 on Friday, August 26. According to a Reuters survey, Japan's GDP growth in fiscal year 2022 was 1.7%, and that in fiscal year 2023 was 1.3% (the July survey was 1.9% and 1.6% respectively). The core CPI is expected to increase by 2.3% in fy2022 and 1.1% in fy2023 (2.1% and 1.1% respectively in July survey).



Nikkei index jpn225 - 4-hour K-line chart shows:




Technical analysis:


According to the 4-hour chart, the market is shrouded in short-term sentiment. After falling below the previous low level, the market continues to decline. The short-term decline has not stopped. The MACD index is weak at the lower side of the 0 axis, and the RSI index is narrow at the lower side of the 50 equilibrium line;


Long and short turning point: 28249


Pressing position: 28375, 28496


Support position: 28066, 27971


Trading strategy: 28249 lower bearish, target 28066, 27971


Alternative strategy: bullish above 28249, targets 28375 and 28496

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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