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Nikkei: sell high, buy low

2023-08-26
369
Fundamental analysis:

On Friday (August 25), the Nikkei 225 index closed down 647.50 points, or 2.01%, to 31627.50 points. A 5.8-magnitude earthquake occurred off the east coast of Honshu, Japan, with a focal depth of 10 kilometers and an epicenter at 39.50 degrees north latitude and 143.55 degrees east longitude. Affected by this, the Nikkei index fluctuated and fell.


JPN225 four-hour chart



Brief technical analysis:

Looking at the 4-hour chart, the Nikkei index fell back to around 31,500 after being blocked at the 32,300 line.

Resistance level: 31800 32000
Support level: 31400 31200

Main strategy: call above 31800, target 32000 32300
Alternative strategy: bearish below 31800, target 31400 31200

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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