FxWirePro: Nikkei225 downside capped by daily Kijun-Sen, good to buy on dips

• Nikkei225 has broken 21- day EMA at 19048 and declined till 18939 yesterday. It is currently trading around 19101 -0.34% higher.
   
• •Technically index major support stands at daily Kijun-Sen and any break below will confirm further weakness.
   
• •On the higher side, minor resistance is around 19390 (10- day MA) and any break above will take the index till 19700 (161.8% retracement of 19542 and 19273) / 20000/20280 in the short term.
   
• •The index immediate support is at 18899 (daily Kijun-Sen) and any break below will drag the index down 18730 (34- day EMA)/18500.


• •The index should break below 18000 for further weakness.

 It is good to buy on dips around 19000 with SL around 18700 for the TP of 19700/20000.