FxWirePro: Nikkei Daily Outlook

Asian markets is trading slightly weak following footsteps of Wall Street. US markets closed slightly lower on account huge sell-off in crude oil prices. Crude oil prices has declined more than % biggest single day fall since 2015.US and China trade talks has resumed according to Wall Street Journal . US President Donald Trump and Chinese President XI Jinping is expected to meet at G-20 summit in Buenos Aires ,Argentina.US markets closed slightly lower with Dow Jones at 25286 (0.40% lower) and S&P500 at 2722 (0.15% lower).Chinese market shanghai is trading slightly lower after mixed Chinese economic data. It is currently trading around 2653 0.06% lower.Nikkei has recovered 100 points from intraday low of 21765. It is currently trading around 21888 (0.11% higher).

USDJPY is consolidating after hitting high of 114.23. The near term major resistance is around 114.25 and any break above targets 114.55. It is currently trading around 113.77.

On the lower side, near term support is around 21400 and any break below targets 21000/20800.

The near term resistance is at aid 22000 and any break above targets 22400/22600.

It is good to sell on rallies around 22000 with SL around 22100 for the TP of 20800.