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Short

Nikkei225 faces strong support at 19800,break below targets19250

FX:JPN225   Nikkei 225 index of Japanese listed shares
112 0 2
Major support – 19800 (Trend line joining 19650 and 19757)

The index is trading in narrow range between 20000 and 19750 for the past three trading session

Any break below 19800 will drag the pair down till 19507 (61.8% retracement of 19235 and 20000)/19235.

On the higher side major resistance is around 20000 and any close above confirms major trend reversal, a jump till 20500/20650 is possible.

It is good to sell below 19800 with SL around 20050 for the TP of 19500/19255
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