Major support - 20800
Asian markets are trading lower as IMF lowered its global growth outlook and renewed US-EU trade tensions. IMF cuts global growth forecasts to 3.3% from estimate of 3.5% in Jan and 3.7% in Oct.US President threatened to impose tariff on $11worth of European Union products. US 10 year yield after hitting high of 2.54%.USDJPY has lost nearly 70 pips from high of 111.82 and struggling to close above 200- day MA. Nikkei declined more than 400 points from high of 21968 and is currently trading around 21655.
On the lower side, near term support is around 21519 (20- day MA) and any break below targets 21320/21000/20800.
The near term resistance is at 21875 and any break above targets 22000/22180.
It is good to sell on rallies around around 21800-850 with SL around 22000 for the TP of 21320/21000.
