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JPN225: Multiple head vibration moves up

2022-10-26
1297
Fundamental analysis:

The Nikkei 225 Index closed up 256.60 points, or 0.95%, at 27231.50 on October 25 (Tuesday). As the impact of one-time factors such as rising fuel costs subsides, the Bank of Japan is expected to slightly raise its consumption inflation forecast for the year to March 2023 and the next year.


Nikkei index JPN225 - 4-hour K line chart shows:




Technical analysis:


The 4-hour chart shows that the bull momentum keeps moving upward in a narrow range, the short-term bullish sentiment gradually heats up, and the bull continues to climb. The MACD index stays in the bull area and keeps sorting up, while the RSI index stays in the weak shock in the bull area;


Empty turning point: 27481


Pressing: 27617, 27714


Support: 27385, 27289


Trading strategy: bullish above 27481, target 27617, 27714


Alternative strategy: 27481 bearish, target 27385, 27289

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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