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JPN225: Slow up

2023-04-25
810
Fundamental analysis:

On April 24 (Monday), the Nikkei 225 Index closed up 12.63 points, or 0.04%, to 28577.00 points. Kazuo Ueda, Governor of the Bank of Japan: The Bank of Japan must maintain monetary easing because the trend inflation rate is still below 2%. If trend inflation can be expected to reach 2%, the BOJ must move towards policy normalization. Even artificial intelligence cannot make accurate economic forecasts.

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



Brief technical analysis:

The 4-hour chart: the bullish momentum is slowly rising after a high level of narrow-range consolidation, the market is still bullish, but still maintains a narrow range of shocks, the MACD indicator is on the side of the 0 axis, and the RSI indicator is hovering weakly on the side of the 50 balance line;

Resistance level: 28767 28837

Support level: 28575 28508

Trading strategy: Bullish above 28653, target 28767 28837
Alternative strategy: bearish below 28653, target 28575 28508

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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