Potential Reversal Zone (PRZ) - 5417
The index has formed pattern in hourly chart and it is good to buy on dips. ASX200 has taken support near 200 - and slightly recovered from that level.
It is currently trading around 5460.Short term trend is slightly as long as support 5436 holds.
On the higher side , the index is facing resistance around 5472 (21- ) and any break above targets 5502/5530 in the short term.It should break above 5625 for further bullishness.
Nikkei's minor support is around 5435 (200- ) and any break below will drag the index down till 5375/5350.
It is good to buy on dips around 5435 with SL around 5372 for the TP of 5502/5530.