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JPN225: high shock

2023-02-08
1109
Fundamental analysis:

The Nikkei 225 Index closed down 0.03% at 27,685.47 points; the total per capita cash wages, including basic wages and overtime pay, increased by an average of 2.1% to 326,157 yen (about 16,700 yuan) per month, an increase for two consecutive years. While this is a substantial increase over the past 31 years, it still cannot keep up with rising prices.

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



Brief technical analysis:

Looking at the 4-hour chart: the high level fluctuates within a narrow range, the bulls in the market are strongly driven up, the short-term bullish sentiment remains, the MACD indicator is in the bullish area and the RSI indicator is hovering weakly near the 50 balance line;

Long and short turning point: 27582

Suppression: 27715, 27814
Support: 27488, 27402

Trading strategy: Bullish above 27582, target 27715, 27814
Alternative strategy: bearish below 27582, target 27488, 27402

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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