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FxWirePro: Nikkei225 trades higher on weak yen, good to buy on dips

  • Minor Support - 17800 (Resistance turned into support).
     
  • Nikkei225 jumped sharply till 17900 on account of weak yen and slightly declined from that level.The index is still holding above 17500 and is currently trading at 17885 0.07% lower.  
     
  • Technically index is slightly bullish as long as support 17265 (200- HMA) holds.
     
  • On the higher side, major resistance is around 18000 and any close above targets  18300.
  • The index immediate support is at 17500 (100- H MA) and any break below will drag the index down till 17260 (200- H MA)/16800 in the short term.
     
  • The index should break below 16800 for further weakness.

 It is good to buy on dips around 17700  with SL 17200 for the TP of 17800/18000.

  • Market Data
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