Asian markets is trading extremely weak as US markets hits 14-month low on global growth worries. US markets has closed extremely lower with Dow Jones at 23953 (2% lower) and S&P500 2545 (2.08% lower).The National Association of Home Builders Housing Market Index indicates that US home builder sentiment has fallen to a three -and a half year low. The US 10 year yield is trading lower and lost more than 2.5% after a minor jump til 2.92% and US 2 year yield (2.70%) is trading above US 5 year (2.68%). Shanghai is trading down following foot-steps of US markets is currently trading around 2583 (0.55% lower).Nikkei futures recovered more than 1.5% as US futures pared some of its loss and is currently trading around 21258 (0%).
USDJPY is has broken support at 113.20 and declined till 112.64 level. It is currently trading around 112.65.The near term major support is around 112.20 and any break below targets 111.37.
On the lower side, near term support is around 20800and any break below targets 20500/20280.
The near term resistance is at 21340 and any break above targets 21670/21800/22000.
It is good to sell on rallies around 21750-800 with SL around 22000 for the TP of 21170/21000.
