- Asian markets are trading mixed amid a good jump in US markets yesterday.Donald Trump and European Union Clade Juncker said that both have agreed to work together to remove all tariffs ,trade barriers and subsides on non-auto industrial goods. US market has closed higher with Dow Jones at 25414 (0.38% higher) and S&P500 2846 (0.91% higher) and NASDAQ rose 1.2% closed at record high. USD/JPY which is the main indicator of geo political tension is trading lower after hitting temporary top around 113.17. US futures is trading flat with Dow Jones at 25437 (0.08% lower) and S&P500 2832 (0.34% lower). Nikkei is currently trading around 22578 0.23% lower.
- USD/JPY is trading weak after forming a temporary top around 113.17 level. It hits low of 110.68 and is currently trading around 110.80 (0.16% lower).
- On the lower side, index major support is around 22400 (55- day EMA) and any break below will drag the index down till 22270/22000/21750/21460.
- The near term resistance is around 22800 and any convincing break above will take the index to next level till 23050/23200.
It is good to buy on dips around 22450-500 with SL at 22270 for the TP of 23040.
