FxWirePro: Nikkei225 faces strong resistance at 17250, good to buy at dips

• Major resistance  - 17256 (100 W EMA )
   
• Major support - 16635 (21 W MA)
   
• Nikkei index has made a high of 17250 and slightly retreated from that level. It is currently trading around 17125.
   
• Short term trend is  slightly bullish as long as support 16635 holds.
   
• The index major resistance is around 17250 and any break above will take the index to next level 17300/17525. 
    
• On the lower side major support is around 16675 (55 day EMA)  and break below targets  till 16410/16200/16000/15800 in short term.The minor support is around 16900 (100 day EMA)
    
• Short term trend reversal  can be seen only below 15000.

It is good to buy at dips around 16950-17000 with SL around 16670 for the TP of  17170/17525/17685