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FxWirePro: Nikkei225 consolidates in narrow range,good to buy at dips

Tuesday, July 19, 2016 2:36 AM UTC

Major Support -16200 (55 day EMA)
Major Intraday resistance- 16656
Nikkei225 has jumped till 16656 and slightly declined from that level.It is currently trading around 16569.
The index upside upside has been capped by 16660 (trend line joining 17770 and 17247) and any break above confirms further bullishness.
On the lower side immediate support is around 16200 (55 EMA) and any break below targets 16000/15830.The minor resistance is around 16400.
The Nikkei225 is facing resistance around 16660 and any break above targets 16850/17000/17250.

It is good to buy on dips around 16400 with SL around 16165 for the TP of 16840/17000.

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FxWirePro: Nikkei225 consolidates in narrow range,good to buy at dips

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