Nikkei is trading higher for 3rd consecutive day and jumped more than 600 points .The main reason for recovery are
- Fed Chairman dovish comments rises chance of rate cut
- US-Mexico trade talks in progress.Mexico has deployed 6000 members of its National guard to prevent illegal migrants.
- USDJPY has recovered more than 60 pips from low of 107.84.
On the higher side, near term resistance is around 21000 and any violation above will take the index to next level till 21287/21480.
The near term support is around 20680 and any convincing break below will drag the index down till 20458/20288.
It is good to buy on dips around 20700-725 with SL around 20500 for the TP of 21280.
