• Nikkei trading slightly higher and hits fresh 2- year high  after breaking high of 20835. The index jumped till 20886 and prices are supported by weak yen and strong global indices. Nikkei has formed a temporary bottom around 20200 and is currently trading around 20883 0.33% higher.
   
•  USD/JPY has recoverd slightly after hitting low of 112.22. The pair bullish continuation can be seen only above 113.45 and any break above will take the pair till 114/115. The major support is around 112.20 (233- day MA) and any break below will drag the index till 111.11 (100- day MA). It is currently trading around 112.65. 
   
• On the lower side, index major support is around 20525 (10- day MA) and any break below will drag the index down till 20400 (23.6% retracement of 19144 and 20786)/20200/20000.
   
• The near term resistance is around 21000 and any break above will take the index to next level till 21250/21580.
  
  It is good to buy on dips around 20600 with SL around 20400 for the TP of 21000/21580.