FxWirePro: Nikkei trades slightly higher on weak yen, trade war in focus

Asian markets is trading weaker with Nikkei trading marginally higher of 0.30% on weak yen. US and China trade talks worries is affecting overall global markets. US President Donald Trump has planned to impose another $200 billion trade tariffs on China.Shanghai composite is trading lower and is at 2671 (0.71% lower). US markets closed flat with Dow Jones at 26154 (0.03% higher) and S&P500 at 2904 (0.03% higher). US futures are currently trading flat with Dow Jones 26111 (0.13% lower) and S&P500 2900 (0.12% lower). Nikkei is trading around 23165 (0.38% higher).

USD/JPY is trading higher and any jump above 112.15 will confirm further bullishness. It is currently trading around 111.94 (0.05% higher).
 

On the lower side, index near term support is around 22729 and any break below will drag the index down till 22550/22370/22100. The major long term support is around 21750.
 

The near term resistance is around 23282 and any convincing break above will take the pair to next level 23500/23768 (161.8% fib).

It is good to buy on dips around 22800 with SL at 22600 for the TP of 23500/23768.