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JPN225: rapid ascent
2023-02-14
1142
Fundamental analysis:
On February 13 (Monday), the Nikkei 225 Index closed down 255.48 points, or 0.92%, to 27415.50 points. Kazuo Ueda's possible nomination as the new BOJ chief surprised many experts in Tokyo, but the surprise quickly turned to optimism amid signs that Kazuo Ueda believes that easing policy is still necessary.
The Nikkei JPN225——4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the momentum of the bulls is rising rapidly, the short-term bullish sentiment is still there, the bulls in the market are constantly pulling up, the MACD indicator is hovering around the 0 axis, and the RSI indicator is in a weak order on the side of the 50 balance line;
Long-short turning point: 27667
Suppression: 27735, 27782
Support: 27621, 27576
Trading strategy: Bullish above 27667, target 27735, 27782
Alternative strategy: bearish below 27667, target 27621, 27576
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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