Major support - 20800
Asian markets are trading higher following footsteps of Wall Street.US ADP employment data came at slightly lower than estimate. Private sector has added 129000 jobs compared to forecast of 170K and below previous month 197K.US ISM services PMI came in at 56.1 down from previous month 59.7 and slightly below estimate 58.1. US 10 year yield continues to trade higher and jumped more than 2.5%. USDJPY has closed above 200- day MA and a jump till 1122./112.20 is possible. Nikkei jumped 350 points from yesterday’s low of 21494 and is currently trading around 21749.
On the lower side, near term support is around 21447 (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 22000/22180.
