Thursday, October 15, 2026

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FxWirePro: Nikkei225 struggles to close above trend line resistance,good to sell on rallies

Major Support -16200 (55 day EMA) Major Intraday resistance- 16656 ​ Nikkei225 has jumped till 16724 and slightly declined from that level.It is currently trading around 16569. The index upside has been capped by 16660 (…

By FxWire Pro
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FxWirePro: Nikkei225 struggles to close above trend line resistance,good to sell on rallies
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  • Major Support -16200 (55 day EMA) 
     
  • Major Intraday resistance- 16656  
    ​
  • Nikkei225 has jumped till 16724 and slightly declined from that level.It is currently trading around 16569.
     
  • The index upside  has been capped by 16660 (trend line joining 17770 and 17247) and nikkei struggling to close above trend line resistance.
     
  • On the lower side immediate support is around 16200 (55 EMA) and any break below targets 16000/15830.The minor support  is around 16400.
     
  • The Nikkei225 is facing resistance around 16660  and any break above targets 16850/17000/17250. 

    It is good to buy on dips around 16400 with SL around 16165 for the TP of 16840/17000.

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