• Asian markets are trading mixed mostly on the lower side after a flat close in US markets . US and China trade war is the major event which is dragging global equity markets. Chinese market has shown decline of more than 1% today after minor recovery . It is currently trading around 2815. US markets closed slightly higher with Dow Jones 24270 (0.23% higher) and S&P500 2718 (0.08% higher).USD/JPY which is the main indicator of geo political tension has shown a good recovery of 150 pips from low of 109.36 and this shows that investors slightly ignoring trade war tension.US futures is trading marginally higher with Dow Jones at 24347 (0.33% higher) and S&P500 2723 (0.10% higher). Nikkei is currently trading around 22260 0.36% lower.
   
• USD/JPY has broken major resistance of 110.90 high made on Jun 15th 2018. The pair hits high of 111.06 and is currently trading around 110.90.
   
• On the lower side, index major support is around 22200 (200- day MA) any break below will drag the index down till 22000/21800.
   
• The near term resistance is around 22420 (55-day EMA) and any convincing break above will take the index to next level till 22615 (20 day MA)/22800.
• It is good to buy on dips around 22150-200 with SL at 21980 for the TP of 22620.