FxWirePro: Nikkei225 faces strong resistance around 17300, good to buy at dips
Major resistance - 17300 The index has broken minor resistance around 17000 and jumped till 17097 at the time of writing slightly recovered after making a low of 17014. It is currently trading around 16664.Short term tre…
The index has broken minor resistance around 17000 and jumped till 17097 at the time of writing slightly recovered after making a low of 17014. It is currently trading around 16664.Short term trend is bullish as long as support 16500 holds.
On the higher side the index is facing major resistance around 17300 and any break above 17300 will take the index to next level till 17520/17750.
The index major support is around 16450 and break below targets 16000/15500.
Short term bullish invalidation only below 15500.
It is good to buy at dips around 16750-800 with SL around 16420 for the TP of 17300/17520.
