Major support - 21550
Asian markets are trading higher especially Shanghai jumped more than 1% on positive Chinese data.Chinese exports rose 14.2% in Mar strongest growth in 5 years. Chinese banks total lending in the first three months of 2019 hit a record quarterly tally of 5.81 trillion yuan. US 10 year yield rose more than 3.5% and it is currently trading around 2.556%.USDJPY is trading higher and any break above 112.20 confirms further bullishness. Nikkei recovered more than 600 points from low of 21565 and is currently trading around 22195.
On the lower side, near term support is around 21720 (200- day MA) and any break below targets 21550 (300- day EMA)/21320/21000/20800.
The near term resistance is at 22200 and any break above targets 22380/22600.
It is good to buy on dips around around 21700-725 with SL around 21500 for the TP of 22500.
