FxWirePro: Nikkei trades higher on slightly easing trade tensions,markets eye G20 summit

Asian markets is trading higher especially Nikkei hits 2-week high following footsteps of Wall Street. US markets has closed slightly after White House economic adviser has expressed optimistic view on US and China trade talks.US President Donald Trump and Chinese PM to meet on Saturday and this meeting is expected to ease trade tensions .Chinese market Shanghai is consolidating after a more than 2.5% sell-off. It is currently trading around 2580 0.20% higher.Nikkei is trading higher and jumped nearly 400 points from low of 21800. It is currently trading around 221889 (0.45% lower).

USDJPY trades higher for 3rd consecutive day and jumped more than 100 pips from low of 112.87. The near term major resistance is around 114.23 and any break above targets 114.55/115. It is currently trading around 113.85.

On the lower side, near term support is around 21636 and any break below targets 21400/21000/20800.

The near term resistance is at 22175 (55- day EMA) and any break above targets 22335 (89- day EMA)/22550.

It is good to buy on dips around 21800 with SL around 21600 for the TP of 22550.