Nikkei225 breaks minor trend line support, targets 19600
Nikkei225 breaks minor trend line resistance at 19080 and jumped slightly from that level.The index formed a temporary bottom at 18650 and currently trading around 19125 0.35% higher.
•USD/JPY has made a high of 115.60 and started to decline from that level. The pair upside is capped by 50% fibo and any break above will take the index till 116.31 /117. It is currently trading around 114.75.
•Technically index is facing strong support at 18595 (60 day EMA) and any close below that level will drag the index down till 18252 (89- day EMA).The minor support is around 18818.
•On the higher side, major intraday resistance is around 19200 (10- day MA) and any break above will take the index to 19397 (61.8% retracement of 19698 and 18650).
•The index should break below 18000 for further weakness.
It is good to buy on dips around 19050 with SL around 18818 for the TP of 19500/19695
•USD/JPY has made a high of 115.60 and started to decline from that level. The pair upside is capped by 50% fibo and any break above will take the index till 116.31 /117. It is currently trading around 114.75.
•Technically index is facing strong support at 18595 (60 day EMA) and any close below that level will drag the index down till 18252 (89- day EMA).The minor support is around 18818.
•On the higher side, major intraday resistance is around 19200 (10- day MA) and any break above will take the index to 19397 (61.8% retracement of 19698 and 18650).
•The index should break below 18000 for further weakness.
It is good to buy on dips around 19050 with SL around 18818 for the TP of 19500/19695
