Asian markets are trading mixed especially Nikkei declines more than 0.5% from yesterday’s close of 20576. US markets was closed higher for 10th consecutive days on hopes of US-China trade deal with Dow Jones at 24065 (0.65% higher) and S&P500 2610 (1.07% higher) . Shanghai is trading slightly lower and is currently trading around 2567 (0.10% lower). Nikkei is trading at 20429 (0.70% lower).
USDJPY has recover 70 pips from low of 107.98. Minor weakness can be seen below 107.50 and any violation below targets 106.80/106. It is currently trading around 108.49.
On the lower side, near term support is around 19900 and any break below targets 19600/19000.
The near term resistance is at 20845 (55 - day EMA) and any break above targets 21000/21300.
It is good to buy on dips around 20000 with SL around 19700 for the TP of 20580/20840.
