Asian markets are trading mixed especially Nikkei declines nearly 200 points from yesterday’s high of 20281 following footsteps of Wall Street.US futures is trading lower with Dow Jones 23787 (0.80% lower) and S&P500 2573 (0.83% lower) on US government shutdown hits record of crossing 21 days which happened during 1995-96. Shanghai is trading slightly lower and is currently trading around 2538 (0.60% lower). Nikkei is trading at 20046 (0.61% lower).
USDJPY has lost nearly 100 pips from high of 108.12. Minor weakness can be seen below 107.50 and any violation below targets 106.80/106. It is currently trading around 108.11.
On the lower side, near term support is around 19900 and any break below targets 19600/19000.
The near term resistance is at 20510 (38.2% fib) and any break above targets 20926 (55-day EMA)/21300.
It is good to buy on dips around 19600 with SL around 19200 for the TP of 20509.
