Nikkei hits 2-1/2 month high on strong yen and higher global equities. The pair has broken yesterday high of 20131 and jumped till 20197at the time of writing . The index has closed well above 20000 and it is trading aro…
Nikkei hits 2-1/2 month high on strong yen and higher global equities. The pair has broken yesterday high of 20131 and jumped till 20197at the time of writing . The index has closed well above 20000 and it is trading around 20187 0.46% higher.
USD/JPY has broken major resistance of 111.13 (100- day MA) and jumped till 111.50. Any convincing break above 111.76 (233- day MA) will take the pair to next level till 112/113.It is currently trading around 111.51. Short term support is around 107.30 and any break below targets 106.
On the lower side, index major support is around 19835 (100- day MA) and any break below will drag the index down till 19598 (20- day MA)/19425 (61.8% retracement of 19144 and 19899)/19250 (233- day MA)/19144.
The near term resistance of Nikkei is around 20319 (Jun 20th 2017) and break above will take the index to 20500/20905.
It is good to buy on dips around 19800-850 with SL around 19500 for the TP of 20319/20550
