Nikkei225 faces resistance at 200- HMA,break above targets 19000
Major intraday resistance - 18532 (200- H MA).
Nikkei is trading in narrow range between 18197 and 18532 for the past two trading session.Market awaits first round of French election result this week for further direction.The index is trading slightly above hourly Tenken-Sen and Kijun-Sen. It is currently trading around 18468 0.5 % higher.
The Japanese yen recovered slightly after breaking below 200- day MA. The pair should close above 109.25 for further bullishness.
On the lower side ,near term support is around 18325 ( 61.8% retracement of 16106 and 16698) and any break below targets 18000/17800 is possible.
The major resistance is around 18535 (200- H MA) and any break above will take the index till 18810 (100- day EMA).
It is good to buy above 18535 with SL around 18325 for the TP of 18800/19000.
Nikkei is trading in narrow range between 18197 and 18532 for the past two trading session.Market awaits first round of French election result this week for further direction.The index is trading slightly above hourly Tenken-Sen and Kijun-Sen. It is currently trading around 18468 0.5 % higher.
The Japanese yen recovered slightly after breaking below 200- day MA. The pair should close above 109.25 for further bullishness.
On the lower side ,near term support is around 18325 ( 61.8% retracement of 16106 and 16698) and any break below targets 18000/17800 is possible.
The major resistance is around 18535 (200- H MA) and any break above will take the index till 18810 (100- day EMA).
It is good to buy above 18535 with SL around 18325 for the TP of 18800/19000.