Asian markets are trading weak especially Nikkei declined more than 0.50% on mixed earnings from Wall Street. Xerox and 3M rose after better than expected earnings. Apple posted decent set of numbers and disclosed waning demand for iPhones.US markets has closed weak with Dow Jones 24580 (0.21% higher) and S&P500 2640 (0.15% lower). US and China’s major phase of negotiations to happen this week.Chinese Shanghai composite has recovered more than 1.5% from low of 2559 on trade deal hope and is currently trading around 2596 (0.09% higher). Markets eye US Fed meeting for further direction. USDJPY has once again declined after hitting high of 109.95 and any break above 110 confirms further bullishness.It is currently trading around 109.21.
On the lower side, near term support is around 20500 and any break below targets 20200/20000.
The near term resistance is at 21000 and any break above targets 21387/21573.
It is good to sell on rallies around 20750-800 with SL around 21000 for the TP of 20000.
