Major intraday resistance - 18870 (100- day MA).
Chart pattern - ( )
Nikkei broken the major support 18638 low formed on Jan 18th 2017 and declined till 18548 at the time of writing on account of strong JPY. It is currently trading at 18608 at 0.17% lower.
USD/JPY is facing strong support at 110 and any break below confirm further weakness. It is currently trading around 110.48.
On the lower side , 18500 will be acting as major support for Nikkei and any break below will drag the index till 18325 ( of 16106 and 16698)/18000 .
•The major resistance is around 18870 (100- day ) and any break above will take the index till 19089 (100- day MA)/19200/19365 ( of 19669 and 18867).
It is good to buy on dips around 18550 with SL around 19325 for the TP of 19000/19085.