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Jpn225: high weak shock up

2022-08-18
1351
Fundamental analysis:

The Nikkei 225 index closed up 335.09 points, or 1.16%, at 29204.00 on Wednesday, August 17. Japan's imports jumped to a record high in July, exceeding its exports, leading to a widening trade deficit, which indicates that the terms of trade of Japan's export-oriented economy have further deteriorated.



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




Technical analysis:


According to the 4-hour chart, the bull power maintains a good momentum of oscillation and rise, and the short-term bull pull-up trend may continue. The MACD index is in the high position of the bull region, and the RSI index is in the weak position of the bull region;


Long and short turning point: 28951


Pressing position: 29117, 29221


Support position: 28839, 28720


Trading strategy: bullish above 28951, targets 29117 and 29221


Alternative strategy: bearish below 28951, target 28839, 28720

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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