FxWirePro: Nikkei Daily Outlook

Asian markets is trading mixed with Nikkei declines more than 0.5%. US markets has shown huge come back of more than 2.5% from low with Dow Jones 24423 (0.14% higher), S&P500 2637(0.18% higher).The US 10 year yield shown a minor recovery of nearly 1.5% from low of 2.822%and US 2 year yield is trading on par with US 5 year. Shanghai is trading slightly higher and is currently trading around 2584 (0.91% higher).Nikkei has lost more than 7% from high of 22784 and is currently trading around 21143 (0.53% lower).

USDJPY jumped more than 100 pips after hitting low of 112.23.It is currently trading around 113.10.The near term major support is around 112 and any break below targets 111.37.

On the lower side, near term support is around 21000 and any break below targets 20795.

The near term resistance is at 21489 (23.6% fib) and any break above targets 21669/21999 (10- day MA)

It is good to sell on rallies around 21600-650 with SL around 21800 for the TP of 21000.