Asian markets is trading extremely weak with Nikkei lost more than 3% after Wall Street rout. US markets has shown huge sell-off yesterday especially NASDAQ lost more than 4% ,Dow closed at 24583 (2.4% lower) and S&P 500 2656 (3% lower). Nikkei has shown a gap down opening and declined 00 points from yesterday’s close. It is currently trading around 21394.
USDJPY is trading higher on declining stock market and lost more than 60 pips from yesterday’s high. The near term major support is around 111.50 and any break below targets 111/110.35. It is currently trading around 112.06.
On the lower side, near term support is around 21200 and any break below targets 21000/20750.
The near term resistance is at aid 21687 and any break above targets 21850/22120.
It is good to sell on rallies around 21750-780 with SL around 22000for the TP of 21000.
