FxWirePro: Nikkei hits fresh 52- week high on French elections, good to buy on dips
Nikkei hits fresh year high after breaking major resistance 19666 on account of French election and weaker yen.The index rose almost 0.36% at the time of writing at 19768. French Centrist candidate Emmanuel Macron has co…
Nikkei hits fresh year high after breaking major resistance 19666 on account of French election and weaker yen.The index rose almost 0.36% at the time of writing at 19768.
French Centrist candidate Emmanuel Macron has comfortably won the Presidential elections.Macron defeats Le pen with vote share of 65% to 35% at 39 years , the country's youngest president.
USD/JPY closed well above 112 level on Friday and is currently trading around 112.83. The major resistance is around 113.04 and any break above will take the pair till 115/115.51.
On the lower side ,near term support is around 19415 (23.6% retracement of 18193 and 19793) and any break below targets 19340 (55-4H EMA)/ 19180 (100-4H EMA) is possible.
The major resistance is around 19800 (161.8% retracement of 19661 and 19450) and any break above will take the index till 20000/20180.
It is good to buy on dips around 19650 with SL around 19400 for the TP of 20000/20180.
