FxWirePro: Nikkei225 recovers slightly after making a low of 15894,good to sell on rallies
Major Support -16008 (daily Kijun-Sen) . Major resistance- 16415 (90 day EMA). Nikkei225 has recovered slightly after making a low of 15894 yesterday.It is currently trading around 16259. The intraday trend is slightly…
Nikkei225 has recovered slightly after making a low of 15894 yesterday.It is currently trading around 16259.
The intraday trend is slightly weak as long as resistance 16415 holds.
The minor resistance is around 16415 (90 day EMA ) any break above targets 16660/16800.It should break above 17170 (200 day MA) for major trend reversal.
On the lower side immediate support is around 16008 and any break below targets 15800/15500/15300.
It is good to sell on rallies around 16250-16300 with SL 16420 for the TP of 15820/15500.
