Major resistance - 16985 (100 day EMA)
Major support - 16410 (100 day 4H MA)
Nikkei index has jumped till 16985 yesterday and slightly declined from that level. It is currently trading around 16804.
Short term trend is slightly bullish as long as support 16400 holds.
The index major resistance is around 17000 and any break above will take the index to next level 17300/17525.The minor resistance is at 16850.
On the lower side major support is around 16400 (100 day 4H MA) and break below targets till 16200/16000/15800 in short term.The minor support is around 16650.
Short term trend reversal can be seen only below 15000.
It is good to buy above 17000 with SL around 16650 for the TP of 17525/17685
Major support - 16410 (100 day 4H MA)
Nikkei index has jumped till 16985 yesterday and slightly declined from that level. It is currently trading around 16804.
Short term trend is slightly bullish as long as support 16400 holds.
The index major resistance is around 17000 and any break above will take the index to next level 17300/17525.The minor resistance is at 16850.
On the lower side major support is around 16400 (100 day 4H MA) and break below targets till 16200/16000/15800 in short term.The minor support is around 16650.
Short term trend reversal can be seen only below 15000.
It is good to buy above 17000 with SL around 16650 for the TP of 17525/17685