FxWirePro: Nikkei faces strong resistance at 16575, good to buy at dips

• Minor resistance - 16400
   
• Major resistance - 16575 (200 day 4 HMA)
   
• Major support -15600
   
• The index has broken major resistance 16350 and jumped till 16525. It is currently trading around 16348.
   
• It is facing major resistance around 16575 and any break above 16575 confirms minor trend reversal, jump till 16700/17000/17250 is possible .
   
• On the lower side minor support is around 16000 and break below targets around /15500/15200/14880 (200 day W MA).
   
• Short term trend reversal can be seen only above 17200.

It is good to buy above 16250-300 with SL around 16000 for the TP of 16575/1700