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NI 225, Japan's Stock Market is Actively Recovering

1/18/2023 2:00 PM

The leading Japanese stock index NI 225 continues to correct, trading near the mark of 26767.0.

Stock market quotes reversed and began to actively grow after the Bank of Japan announced the continuation of the current monetary policy. This means that the interest rate will remain at -0.10%, despite forecasts regarding the likely change of the "dovish" rate. The regulator said that it will monitor the situation on the bond market and will continue active purchases of securities without setting an upper limit, which may limit the growth of their yields. In addition, the data on the volume of industrial production turned out to be positive, reflecting an increase of 0.2%, contrary to the expected reduction of 0.1%.

The information about maintaining the current monetary parameters was negatively perceived in the bond market, which moved to an active decline: the yield on 10-year Japanese bonds lost 0.69% from the start of trading, amounting to 0.502%, and the rate on 15-year securities adjusted by -3.41%.

The growth leaders in the index are Konami Corp. (+5.93%), Terumo Corp. (+6.66%), Amada Co. Ltd. (+6.34%), Chugai Pharmaceutical Co. Ltd. (+5.29%).

Among the leaders of the decline are T&D Holdings Inc. (-1.54%), Dai-ichi Life Holdings Inc. (-1.40%), Mitsubishi UFJ Financial Group Inc. (-1.19%).

On the daily chart of the asset, the price remains within the global side corridor, actively moving away from the support line.

Technical indicators hold the sell signal, which is rapidly narrowing: the histogram of the AO oscillator forms new correction bars, and fast EMAs on the alligator indicator approach the signal line with readiness to cross it.

Support levels: 26530.0, 25680.0. | Resistance levels: 27167.0, 28393.0.

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