Nikkei is consolidating in narrow range between 19280 and 19560 for the past two trading session.Global markets awaits Jackson Hole testimony by Fed and ECB for further direction. It is currently trading around 19392 0.1…
Nikkei is consolidating in narrow range between 19280 and 19560 for the past two trading session.Global markets awaits Jackson Hole testimony by Fed and ECB for further direction. It is currently trading around 19392 0.15% lower.
USD/JPY has declined once gain after hitting high of 109.82 yesterday. It should close above 100- MA at 111.21 in the daily chart for minor bullishness. It is currently trading around 109.18.The major short term support is around 108 and any break below targets 106.
On the lower side, index major support is around 19320 (200-day MA) and any close below will drag the index down till 19000 (61.8% retracement of 18193 and 20319)/18500.
The near term resistance of Nikkei is around 19575 (55- 4H EMA) and break above will take the index to 19740 (100- 4H MA)/20000/20319 (Jun 20th 2017).Short term bullish invalidation only below 19275.
It is good to sell on rallies around 19550-19600 with SL around 19850 for the TP of 19320/19000
