FxWirePro: Nikkei trades higher on weak yen, good to buy on dips

Asian markets rose today after tech stocks has shown good jump in Wall Street. NASDAQ has closed at record high after breaking previous high of 7637. Positive US jobs data and easing Italy political uncertainty are supporting global stock market. The yen is continuing its weakness as new Italian PM Conte said that the government has no plans to leave the Eurozone.US 10 –year bond yields is trading firm and is currently at 2.941% after hitting 1-1/2 month low at 2.74% on account of political uncertainty in Italy. US markets have closed flat yesterday with Dow Jones 24800 (0.06% higher) and S&P500 2748 (0.07% higher). US futures is trading slightly higher with Dow Jones at 24888 (0.26% higher) and S&P500 2755 (0.19% higher).Nikkei is currently trading around 22630 0.53% higher.
USD/JPY is trading slightly higher for the day and it is facing strong resistance at 110.17 (200- day MA) and any break above will take the pair till 111.39. It is currently trading around 109.90.
On the lower side, index major support is around 22550 (20- day MA) and any break below will drag the index down till 22475 (daily Kijun-Sen) /22260 (55- day EMA)/22110 (100- day MA)/21957 (200- day MA).
The near term resistance is around 22619 (61.8% fibo) and any convincing break above will take the index to next level till 22800/23050.

It is good to buy on dips around 22400-425 with SL at 22250 for the TP of 22800/23000.

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