Nikkei225 breaks major support 16250,targets 15815/15500

FX:JPN225   Nikkei 225 Index
111 0 2
Major support - 16,250 ( 50% retracement of 17770 and 14770)

Major resistance - 16650 (90 H EMA )

Nikkei Index has broken major support 16250 on account of stronger yen.  It is currently around 16092.

Short term trend is  slightly weak as long as resistance 16650 holds.

Any break below major support 16250 will drag the index till 16000/15800 in the short term.Overall trend reversal is at 15470 (200 W MA) and any break below targets 15000.

The index major resistance is around 16650 (90 H EMA ) and any break above 16650 will take the index to next level 16850/17000/17250. The minor resistance is around 16300/16450.
On the lower side major support is around 15900 ( 61.8% retracement of 14770 and 17770) and any break below will drag the index down till 15800/15515.

It is good to sell on rallies around 16300 with SL around 16650 for the TP of 15915/15800/15500
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