FxWirePro: Nikkei225 trades lower on U.S political uncertainty, good to sell on rallies

• Nikkei index shown a huge decline yesterday on the weakness in U.S equity  markets. US equity indices Dow and S&P recorded a worst decline since Sep 20161 mounting concerns of Political turmoil in U.S.The New York times reported that Donald Trump had asked FBI director Mr James Comey to end an investigation into former National Security Adviser Micheal Flynn.
   
• U.S dollar index broken major support of 98 level and declined till 97.48 lowest level since Nov 2016.
   
• U.S dollar declined sharply against yen yesterday after breaking daily Kijun-Sen at 111.25 and declined till 110.52. The pair minor resistance around 112 and minor jump can be seen only above that level. It is currently trading around 111.05.  
   
• On the lower side near term support is around 19320 (38.2% retracement of 18193 and 20019)  and any break below will drag the index down till 19140 (200 - MA)/ 19000 is possible. 
   
• The near term major resistance is around 19600 (100 4H EMA) and any break above will take the index till 20000/20180/20470.

It is good to sell on rallies around 19575-600 with SL around 19800 for the TP of 19145.