• Nikkei is consolidating after hitting 20000 level and is trading at 17 month high. The index has gained almost 8.5% from the low made on Apr 14th 2017 on account of easing fears about euro zone and strong earnings. It is currently trading around 19935 0.01% lower.
   
• Mistubishi motors surged to highest level in this year after better than expected projection for next fiscal compared to  annual loss of $1.75 billion. 
   
• USD/JPY is facing strong resistance at 114.35 and any break above will take the pair to next level till 115.50.Any further bullishness only above 115.50.It is currently trading around 114.15.
   
• On the  the lower side ,near term support is around 19585 (23.6% retracement of 18193 and 20019) and any break below targets 19338 (21-EMA)/ 19106 (daily Kijun-Sen) is possible. 
   
• The major resistance is around 20000 and any break above will take the index till 20180/20470.
• In daily chart Nikkei has formed bearish divergence in RSI and MACD , a slight decline till 19500/19300 likely.
  
  It is good to sell on rallies around 19880-19900 with SL around 20050 for the TP of 19585/19300.