Nikkei continues to trade higher for past 1- week and holding well above 21000 level following footsteps of Wall Street.The main reason for recovery are
- US markets in bullish mode especially S&P500 hits 3-week high on US-Mexico trade optimism but US President Trump said that US will impose tariff to China if trade deal not happened in G20 meeting is expected to cap upside.
- USDJPY has recovered more than 60 pips from low of 107.84.
On the higher side, near term resistance is around 21283 (55-day EMA) and any violation above will take the index to next level till 21437/21550/21681.
The near term support is around 20950 and any convincing break below will drag the index down till 20650/20458/20288.
It is good to buy on dips around 20850-900 with SL around 20600 for the TP of 21280/21437.
