Nikkei is trading higher for past three trading days and jumped more than 450 points from low of 20797. the jump was mainly due to on US Trump’s Japan visit. US President Trump is in Japan as part of four day visit. He said that goal is to remove trade barriers as US trade imbalance “unbelievably large”. The index hits high of 21292 and is currently trading around 21277.
On the higher side, near term resistance is around 21300 (300- H EMA) and any violation above will take the index to next level till 21437/21600/21830 (61.8% fib).
The near term support is around 21171 and any break below will drag the index down till 21000/20800.
It is good to buy on dips around 21200-250 with SL around 21000 for the TP of 21600/21830.
