Major support - 20800
Asian markets are trading slightly lower on account of geopolitical tensions in Libya .Crude oil holds well above 5 month on renewed conflict in key oil producers Libya.The threat of new tariff on EU by US is also putting pressure on markets. US 10 year yield continues to trade higher and holding above 2.50% level. USDJPY has lost nearly 50 pips from high of 111.82 and struggling to close above 200- day MA. Nikkei is consolidating between 21494 and 21844 in past 5 days and is currently trading around 21751.
On the lower side, near term support is around 21519 (20- day MA) and any break below targets 21320/21000/20800.
The near term resistance is at 21875 and any break above targets 22000/22180.
It is good to buy on dips around around 21500-550 with SL around 21320 for the TP of 22000/22280
