FxWirePro: Nikkei225 faces strong support at 200 day 4H MA, good to buy at dips

• Major resistance  - 16985 (11 May High)
   
• Major support - 16450 (200 day 4H MA)
   
• Nikkei index has slightly recovered after making a low of 16690. It is currently trading around 16690.
   
• Short term trend is  slightly bullish as long as support 16400 holds.
   
• The index major resistance is around 17000 and any break above will take the index to next level 17300/17525.
    
• On the lower side major support is around 16450 (200 day MA)  and break below targets  till 16320/16000/15800 in short term.
    
• Short term trend reversal  can be seen only below 15000.

It is good to buy at dips around 16600 with SL around 16450 for the TP of 16800/17000