• Asian markets are trading lower on renewed trade war between US and China.US is planning to impose additional $200 billion worth of Chinese goods has dragged the Asian stocks down more than 0.5%.Nikkei lost almost 0.50% after hitting 1-1/2 week high. US market closed nearly 0.5% higher with Dow Jones at 24919 (0.58% higher) and S&P500 2793 (0.35% higher). Chinese market has declined sharply on escalating trade war between US and China. The index has lost more than 1.5% in today’s trade and is trading around 2775. USD/JPY which is the main indicator of geo political tension has lost more than 70 pips from the high of 111.35. US futures is trading marginally lower with Dow Jones at 24740 (0.29% lower) and S&P500 2774 (0.29% lower). Nikkei is currently trading around 21911 0.42% lower.
   
• USD/JPY is trading lower after hitting high of 111.35.The escalating geo political tensions is putting pressure on this pair. It is is currently trading around 111.06.
   
• On the lower side, index major support is around 21579 (50% fib) any break below will drag the index down till 21300/21180 (trend line support). the minor support is around 21750.
   
• The near term resistance is around 22320 (200-day MA) and any convincing break above will take the index to next level till 22500/22780.
  
  It is good to buy on dips around 22000 with SL at 21750 for the TP of 22500/22780.