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FxWirePro: Nikkei225 trades weak,good to sell on rallies

Friday, July 29, 2016 2:46 AM UTC

Major Support -16240 (Jul 26th low)
Major resistance- 17000
Nikkei225 has broken 90 day EMA and declined till 16365 at the time of writing .It is currently trading around 16420.
Market awaits BOJ monetary policy for further direction.
The minor resistance is around 16586 (daily Kijun-Sen) any break above targets 16850.It should break above 17000 for further bullishness.
On the lower side immediate support is around 16240 (Jul 26th low) and any break below targets 16000/15876 (daily Tenken-Sen)..
It is good to sell on rallies around 16550-16600 with SL around 16800 for the TP of 16240/16000.

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FxWirePro: Nikkei225 trades weak,good to sell on rallies

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