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FxWirePro: Nikkei Daily Outlook

Asian markets are trading slightly higher on firmer wall street close.The slight easing trade war between US and China is supporting the global markets. The US and China is expected to restart talks on trade tariffs but US treasury has declined to comment on the status of talks with China..US market has closed slightly higher with Dow Jones at 25415 (0.43% higher) and S&P500 2816 (0.49% higher). USD/JPY which is the main indicator of geo political tension is trading slightly higher after BOJ . US futures is trading flat with Dow Jones at 25417 (0.32% lower) and S&P500 2814 (0.34% lower). Nikkei is currently trading around 22672 0.03% higher.
 

USD/JPY is trading slightly lower after hitting high of 111.95 and is currently trading around 111.84 (0.04% higher).
 

On the lower side, index major support is around 22380 (200- day MA) and any break below will drag the index down till 22270/22000/21750/21460.
 

The near term resistance is around 22800 and any convincing break above will take the index to next level till 23050/23200.


It is good to buy on dips around 22450-500 with SL at 22270 for the TP of 23040.

 

 

 

 

 

 

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