Thursday, October 15, 2026

Technicals

Add as a preferred source on Google

FxWirePro: Nikkei225 faces strong resistance at 17000, good to buy on dips

Major intraday Support -16595 (55 day EMA). Major resistance- 17145 (200 day EMA). ​ Nikkei225 has slightly retreated after making a high of 16740 yesterday. It is currently trading around 16686. The index should break t…

By FxWire Pro
1 min read
FxWirePro: Nikkei225 faces strong resistance at 17000, good to buy on dips
Image from the original EconoTimes article

Read the original article

  • Major intraday Support -16595 (55 day EMA).
     
  • Major resistance- 17145 (200 day EMA).
    ​
  • Nikkei225 has slightly retreated after making a high of 16740 yesterday. It is currently trading around 16686.
     
  • The index should break the temporary top formed at 16930 (Jul 21st 2016 high) for further bullishness.
     
  • Short term trend is slightly bullish as long as support 16380 (200 HMA) holds. 
     
  • Any break above 17000 will take the index to next level 17150/17500. Extreme bullishness can be seen  if the index breaks above 17160 (200 day MA).
     
  • On the lower side immediate support is around 16595 and any break below targets 16380/16200/16000.

    It is good to buy on dips around 16600 with SL 16380 for the TP of 16780/17000.

Related articles

View all
Technicals

Major Pair Currency Score: AUDUSD Bearish

EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560

By FxWirePro Team