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Nikkei: Wide range of shocks

2023-08-28
313
Fundamental analysis:

On Monday (August 28), the Nikkei 225 index closed up 570.00 points, or 1.80%, to 32197.50 points. In Jackson Hole, the Bank of Japan governor continued to stress the need for easing. But financial experts warn that if the policy shift comes too late, Japan may need to raise interest rates sharply in the future, posing significant risks.

JPN225 four-hour chart



Brief technical analysis:

Looking at the 4-hour chart, the Nikkei index rebounded again but was blocked below 32300. The MACD volume can hover around the zero axis.

Resistance level: 32300 36000
Support level: 32000 31600

Main strategy: call above 32000, target 32300 32600
Alternative strategy: bearish below 32000, target 31600 31300

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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