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Nikkei: retracement intensifies
2023-07-05
814
Fundamental Analysis.
It closed down 102.02 points, or 0.31%, at 33320.50 on Wednesday (July 5). The current Japanese stock index broke through the 2021 high, but also did not break through the historical high after excluding the depreciation of the yen. What is reflected behind this is that responding to changes in the international environment and finding new growth points is a common problem faced by major countries around the world.
JPN225 four-hour chart
Brief technical analysis.
The 4-hour chart shows that the Nikkei continues to be blocked near 33350, MACD volume is about to go down through the zero axis, the market continues to go back, resistance concerns 33350-33800, support concerns 32600.
Resistance level:33500 33800
Support level:33400 32900
Trading strategy: 33500 below bearish, target 32900 32600
Alternative strategy: 33500 up bullish, target 33800 34300
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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