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Jpn225: bulls pull up strongly

2022-08-15
1290
Fundamental analysis:

The Nikkei 225 index closed up 704.17 points, or 2.53%, at 28523.50 on Friday, August 12. Japanese investors bought overseas bonds for the third consecutive week, with the purchase volume reaching 827 billion yen, the highest level since January. Given the high cost of hedging, the purchase of US Treasury bonds will cause many people to suffer losses, which is unusual.


Nikkei index jpn225 - 4-hour K-line chart shows:




Technical analysis:


According to the 4-hour chart, the bulls are strongly driven up, and the short-term bullish sentiment may continue. The MACD index continues to rise in the bulls, and the RSI index continues to move up in the bulls;


Long and short turning point: 28658


Pressing position: 28791, 28876


Support position: 28583, 28498


Trading strategy: bullish above 28658, targets 28791 and 28876


Alternative strategy: bearish below 28658, targets 28583 and 28498

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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