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Long

Nikkei225 trades above 16000, jump till 16650/17000 is possible

FX:JPN225   Nikkei 225 Index
132 0 4
Major Support - 15000 (200 W MA)

The index has broken major resistance 16020 and jumped till 16300 at the time of writing . It  is currently  trading around 16300.Short term trend is slightly bullish  as long as support 16000 holds .

The index major resistance is around 16300 and any break above will take the index to next level 16650/17000/17300.

On the lower side minor support is around 16000 and break below will drag the index down till 15700/15500/15000 in short term.
  
 Short term bearish invalidation only above 17300.

 It is good to buy at dips around 16200 with SL around 16000 for the TP of 16650/17000/17300.
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