FxWirePro: Nikkei trades flat, good to buy on dips

• Major support -16820 (200- day MA).
   
• Nikkei225 is trading in narrow range between 17154 and 16882 for the past two trading session.It is currently trading around 16955.
   
• Japan's economy has expanded at better than estimate 0.7% in annualised pace April-Jun.
   
• The index is facing strong resistance at 17200 and any break above confirms further bullishness , a jump till 17330/17500 can be seen. 
    
• Short term trend is slightly bullish as long as the index not able to break below 16820 (200-day MA). 
   
• On the lower side, any break below major intraday support 16820 (200-day MA) and any break below 16820 will drag the pair  till 16525 (daily Kijun-Sen)/16400.

It is good to buy on dips around 16950 with SL 16800 for the TP of 17330/17480