FxWirePro: Nikkei trades higher on strong earnings, good to buy on dips

• Nikkei continuing its winning streak and hits highest level since 1992  at 23423 on account of strong corporate earnings and weak yen. The index has jumped almost 10% since Oct 23rd after Abe land slide victory . It is currently trading around 23243 1.4% higher.
   
•  USD/JPY is consolidating in narrow range between 114.73 and 113.39 for the past three days. The pair bullish continuation can be seen if it closes above 114.45 (161.8% fibo) level. The pair's major support is around 113.19 (daily Kijun-Sen) and any close below will take the pair  till 112.25 (233- day MA)/111.65/111.13. It is currently trading around 114.02. 
   
• On the lower side, index major support is around 23080 (hourly Kijun-Sen) and any break below will drag the index down till 22725 (55- H EMA)/22428.
   
• The near term resistance is around 23500 and any break above will take the index to next level till 24000/24280.

It is good to buy on dips around 22700 with SL around 22425 for the TP of 23480/24000.