FxWirePro: Nikkei225 faces minor support at 16450, good to buy at dips

• Major resistance  - 16985 (11 May High)
   
• Major support - 16470 (10 day EMA)


• Nikkei index has slightly retreated after making a high of 16790. It is currently trading around 16759.
   
• Short term trend is  slightly bullish as long as support 16470 holds.
   
• The index major resistance is around 16800 and any break above will take the index to next level 17000/17300/17525.
    
• On the lower side major support is around 16470 (10 day EMA)  and break below will drag the index down till 16350/16000/15800 in short term.The minor support is at 16500.
    
• Short term trend reversal  can be seen only below 15000.

It is good to buy at dips around 16650 with SL around 16450 for the TP of  16800/17000./17300