FxWirePro: Nikkei trades lower follows footstep pf Wall Street , good to sell on rallies

Asian markets is trading weak following foot steps of US markets.Wall street was trading weak especially NASDAQ down more than 3% with Apple shares declined more than 4%. Chinese market shanghai ha halted its uptrend and lost more than 1%. It is currently trading around 2665 1.39% lower.Nikkei is trading flat and lost  300 points from high of 21918.The decline was led by Nissan motor which lost more than 4% after arrest of Chairman Carlos Ghosn for financial misconduct. It is currently trading around 21569 (0.06% higher).

USDJPY is has lost nearly 150 pips from high of 114.23. The near term major support is around 112 and any break below targets 111.37. It is currently trading around 112.55.

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

The near term resistance is at aid 22000 and any break above targets 22400/22600.

It is good to sell on rallies around 22000 with SL around 22100 for the TP of 20800.