Major support - 18867 (100- day EMA).
Major intraday resistance - 19078 (100- day MA).
Nikkei broken the major support 18868 (100- day EMA) and declined slightly from that level on account of strong JPY. It is currently trading at 18843 at 0.32% lower.
USD/JPY has once again recovered after making a low of 110.26 and any break below 110 confirms further bearishness. It is currently trading around 110.72.
On the lower side , 18867 (100- day MA) will be acting as major support for Nikkei and any break below will drag the index till 18650/18230.
•The major resistance is around 19078 (100- day MA) and any break above will take the index till 19200/19365 (61.8% retracement of 19669 and 18867).
It is good to sell on rallies around 18950-19000 around with SL around 19100 for the TP of 18635/18500
Major intraday resistance - 19078 (100- day MA).
Nikkei broken the major support 18868 (100- day EMA) and declined slightly from that level on account of strong JPY. It is currently trading at 18843 at 0.32% lower.
USD/JPY has once again recovered after making a low of 110.26 and any break below 110 confirms further bearishness. It is currently trading around 110.72.
On the lower side , 18867 (100- day MA) will be acting as major support for Nikkei and any break below will drag the index till 18650/18230.
•The major resistance is around 19078 (100- day MA) and any break above will take the index till 19200/19365 (61.8% retracement of 19669 and 18867).
It is good to sell on rallies around 18950-19000 around with SL around 19100 for the TP of 18635/18500
