FxWirePro: Nikkei trades higher on strong global cues, good to buy on dips

Asian markets are trading higher on account of strong global cues . US market was trading higher especially S&P500 hits all time high. US dollar continues to trade weak after Donald Trump comment on fed. Markets await US-China trade talks and US fed jacksonhole symposium for further direction. US markets closed higher with Dow Jones 25822 (0.25% higher) and S&P500 2862 (0.21% higher). Shanghai has shown a minor decline after hitting high of 2739 and is currently trading around 2718 (0.58% lower) recovered more than 80 points from the low of 2653 and is trading 1.4% higher at 2737on US-China trade talks hopes. US futures is trading higher with Dow Jones at 25736 (0.03% higher) and S&P500 2851 (0.02% higher). Nikkei is currently trading around 22345 0.57% higher.
 

USD/JPY has recovered sharply after showing dip slightly below 200- day MA. It is currently trading around 110.43 (0.14% higher).
 

On the lower side, index major support is around 21750 and any break below will drag the index down till 21460/21200.
 

The near term resistance is around 22382 (200- day MA) and any convincing break above will take the index to next level till 22438 (10- day MA)/22800/23040.

It is good to buy on dips around 22050-22100 with SL at 21900 for the TP of 22380/22500.