FxWirePro:Nikkei recovers slightly on easing Middle east tension, good to buy on dips

1. Nikkei has shown a minor recovery from the low of 21872 made yesterday on account of easing Middle east tension.US markets has jumped slightly almost 1% mostly led by banks. Global markets jump after Donald Trump tweet that the attack “could be very soon or not so soon after all. It is currently trading around 21786.
    
2. US dollar index has shown a minor recovery of more than 50 pips .But index should break above 90.60 for further direction. It is currently trading around 89.79.
    
3. USD/JPY has jumped almost 40 pips from yesterday low of 107.08. It is currently trading around 107.43. The pair should break above 107.40 (55- day EMA) for minor jump till 108/108.50.    
    
4. On the lower side, index major support is around 21500 (20- 4H MA) and any break below will drag the index down till 21330 (100- 4H MA)/21000.
    
5. The near term resistance is around 22000 and any break above will take the index to next level till 22200/22420.

It is good to buy on dips around 21400-450 with SL at 21180 for the TP of 21800/22000.