After the decline over the past two days, the risk-averse sentiment has been somewhat relieved. Let's see if there are opportunities for a rebound to go long.
First, let's look at the daily closing:
The bullish candle on December 11th confirmed the signal for an upward movement, rising from 942 to 1080. Therefore, the bottom of this bullish candle provides some support. The price is at 957; if it breaks 957, we need to see if 942 holds. However, it's okay; those who have held onto the previous short position at 1059 can adjust slightly. The gap below in futures is at 738, and the weekly correction target is also at this price, so the short position can be held a bit longer.
Currently, Japan has no plans for interest rate hikes, but it has become more certain that the meeting in January next year will likely include one, along with Christmas and Spring Festival. Therefore, the speculation on long positions should mainly focus on short-term longs.
Let's look for trading opportunities on a smaller timeframe:
The price has reached the previous key level of 972 again. As long as it doesn't break 957, we can consider speculating on a short-term long position, targeting resistance at 988. If the trend line (price 972) becomes resistance, the key support will be around 90,000.
Let's take a look at the support and resistance at prices 972 and 957 right now. If it breaks down, we can short on the right side; if it doesn't break, we can speculate on a long position.
The morning trading ideas have been analyzed. How do you all feel? Feel free to discuss and exchange ideas in the comments. Here is your little white, analyzing for free every day (heart emoji).