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JPN225: strong pull up

2023-01-18
532
Fundamental analysis:

The Nikkei 225 Index closed up 302.68 points, or 1.17%, at 26125.00 points on January 17 (Tuesday). The chairmen of the National Assembly Countermeasures Committee of opposition parties including the Constitutional Democratic Party of Japan, the Japan Restoration Society, the Communist Party of Japan, the National Democratic Party of Japan, and the Reiwa Shinsengumi held talks that evening and reached an agreement on opposing the government's "tax increase for defense expenses". They agreed that after the convening of the Japanese Diet on the 23rd, full discussions should be conducted to oppose easy tax increases.

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



Brief technical analysis:
Looking at the 4-hour chart: the momentum of the bulls is rising rapidly, the short-term bullish sentiment is shrouded, the bulls in the market are constantly rising, the MACD indicator is in the short area and moves up, and the RSI indicator is hovering slowly above the 50 balance line;

Long-short turning point: 26226

Suppression: 26314, 26374
Support: 26171, 26114

Trading strategy: Bullish above 26226, target 26314, 26374
Alternative strategy: bearish below 26226, target 26171, 26114

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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