FxWirePro: Nikkei trades slightly higher as US-China trade talks resumes, good to buy on dips

Asian markets are trading mixed as US and China resumes trade talks . US new round of trade tariff of $16 billion on Chinese will take effect at 12:01 am New york.US fed minutes meeting shows that central bank are optimistic on US growth and poised for more rate hikes. US dollar has halted its weakness after hawkish fed comments. US markets closed higher with Dow Jones 25733 (0.34% lower) and S&P500 2862 (0.04% higher). Shanghai is trading slightly higher after hitting low of 2700 and is currently trading around 2732 (0.61% higher). US futures is trading higher with Dow Jones at 25702 (0.11% lower) and S&P500 2857 (0.06% lower). 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 110.87 (0.30% higher).
 

On the lower side, index major support is around 22350 and any break below will drag the index down till 22200/22000. The major long term support is around 21750.
 

The near term resistance is around 22460 (100- day MA) and any convincing break above will take the index to next level till 22800/23040.

It is good to buy on dips around 22200 with SL at 22000 for the TP of 22460/22800.