Nikkei showing a slight sell off once again after hitting a high of 19991 on account of stronger yen and geopolitical tensions in North Korea. The index shown a minor jump above 20000 level on May 9th 2017 and is current…
Nikkei showing a slight sell off once again after hitting a high of 19991 on account of stronger yen and geopolitical tensions in North Korea. The index shown a minor jump above 20000 level on May 9th 2017 and is currently trading around 19876 0.34% lower.
USD/JPY is showing a minor weakness after hitting high of 114.36 May 10th 2017 and is trading around 113.50. Any further bullishness only above 115.50.
On the lower side near term support is around 19770 (10- day MA) and any break below will drag the index down till 19585 (23.6% retracement of 18193 and 20019)/19470 (21-EMA)/ 19106 (daily Kijun-Sen) is possible.
The major resistance is around 20000 and any break above will take the index till 20180/20470.
It is good to sell on rallies around 19880-19900 with SL around 20050 for the TP of 19585/19300.
