Asian markets is trading mixed with Nikkei trading slightly higher on slight weakness in yen. But upside is capped due political tensions markets especially Dow Jones has declined slightly after a minor recovery with Dow Jones down 89 points at 25250 and S&P500 2750 (0.59% lower) .Shanghai is consolidating in narrow range after hitting low of 2536. It is currently trading around 2568 0.03% higher. US 10 year bond yield is trading muted after hitting high of 3.25%.Nikkei has recovered more than 300points after hitting low of 22030.It is currently trading around 22380 0.48% higher. US futures is trading slightly lower 25272 0.30% higher and S&P500 2754.70 (0.39% higher).
USD/JPY `has recovered slightly after hitting low of 111.62. The pair is facing strong support at 111.78 (10- W MA) and any convincing close below targets 111.30/110.It is currently trading around 111.95.
On the lower side, near term support is around 22380 (200- day MA) and any break below 22158/21750.
The near term resistance is at aid 22600 and any break above targets 22989 (89- day EMA)/23250.
It is good to sell on rallies around 23650-700 with SL around 22850 for the TP of 21750.
