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Nikkei: Continue to go down

Fundamental analysis:

On Monday (September 11), the Nikkei 225 Index closed down 134.50 points, or 0.41%, to 32475.00 points. The yen surged nearly 10,000 points, but the Japanese stock market began to weaken. Bank of Japan Governor Kazuo Ueda’s previous speech suggested that the negative interest rate policy will end.

JPN225 four-hour chart

Brief technical analysis:

Looking at the 4-hour chart, the Nikkei continues to fall below 32,500, and the MACD volume can be enlarged below the zero axis. Resistance continues to focus on around 32,500, and below, look around 32,200-32,000.

Resistance level: 32500 32800
Support level: 32200 32000

Main strategy: bearish below 32500, target 32200 32000
Alternative strategy: bullish above 32500, target 32800 33000

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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