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FxWirePro: Nikkei jumps sharply supported by technology shares, good to buy on dips

Asian markets are trading higher especially Nikkei jumped more than 1% around 20818 following footsteps of NASDAQ.Japanese shares jump was mainly supported by technology shares.US markets has closed in positive territory with Dow Jones 24553 (0.09% lower) and S&P500 2642 (0.14% higher) as chip related firms extends gains. But market eyes Brexit voting , US Fed meeting and progress in US-China trade talks for further upside. USDJPY is trading steady and any break above 110 confirms further bullishness.It is currently trading around 109.82.

 

On the lower side, near term support is around 20500 and any break below targets 20200/20000.

 

The near term resistance is at 21000 and any break above targets 21387/21573.

It is good to buy on dips around 20400-450 with SL around 20200 for the TP of 21380.

 

 

 

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