Asian markets ha recovered sharply with Nikkei lost almost 0.75% on hopes of fresh trade talks between US and China . US Trump administration has invited China officials to restart trade talks.Shanghai composite was trading slightly higher and is at 2659 (0.14% higher). US markets closed slightly higher with Dow Jones at 25998 (0.11% higher) and S&P500 at 2888 (0.03% higher). US futures are currently trading flat with Dow Jones 25986 (0.01% higher) and S&P500 2883 (0.06% higher). Nikkei is trading around 22820 (0.76% higher).
USD/JPY has gained more than 100 pips from the low of 110.38. It is currently trading around 111.42 (0.15% lower).
On the lower side, index near term support is around 22515 and any break below will drag the index down till 22370/22100. The major long term support is around 21750.
The near term resistance is around 22850 and any convincing break above will take the index to next level till 23040/23200.
It is good to buy on dips around 22515-25 with SL at 22370 for the TP of 23000.
