4.22 Nikkei Stock Average showing self-reliant rebound
This article is not intended to indicate or recommend trading timing.
Please make your own investment decisions.
In yesterday's article, it was written that the Nikkei average, which had a high risk-reward and was a buying opportunity, showed a rebound around two o'clock in the Japanese local time.
After the stock prices, which had moved weakly the previous day, briefly paused globally and then recovered, when U.S. market hours began, the Nikkei also recovered as U.S. stocks were bought back, seemingly pulled along.
In the near term, the resistance to watch is around 29,200; the focus is whether the Tokyo market can follow the rise in New York stock prices.
Although two risk-reward ratios are displayed, the upside is expected to be limited, and since the market environment is not favorable for a new high, it would be prudent to trade with a certain degree of pragmatism.
It is a buying opportunity on pullbacks, but to push above 30,000 yen, domestic domestic demand conditions are not favorable, and if a certain degree of rebound is expected, it could be met with selling on the way back.
I would like to monitor the forex market, but a prominent topic is that the Bank of Canada has begun tapering.
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