• Asian markets is trading steady after a rally yesterday. Positive US jobs data and easing Italy political uncertainty are supporting global stock market. US 10 –year bond yields jumped after hitting 1-1/2 month low at 2.74% on account of political uncertainty in Italy. The 10- year jumped form the low and hits 11- day high at 2.949%. US markets have closed slightly higher yesterday with Dow Jones 24813 (0.72% higher) and S&P500 2746 (0.45% higher). US futures is trading flat with Dow Jones at 24791 (0.05% lower) and S&P500 2744 (-0.05% lower).Nikkei is currently trading around 22530 0.07% lower.
   
• USD/JPY has recovered almost more than 60 pips in this week from low of 109.37. The pair hits high of 110 and shown a minor selling. Any further bullishness can be seen if it breaks above 110. It is currently trading around 109.87.    
   
• On the lower side, index major support is around 22250 (55- day EMA) and any break below will drag the index down till 22110 (100- day MA)/21957 (200- day MA).
   
• The near term resistance is around 22619 (61.8% fibo) and any break above will take the index to next level till 22800/23050.
  
  It is good to buy on dips around 22250-275 with SL at 22000 for the TP of 22600/22800.