Nikkei225 is trading 0.47% lower in the Asian session after jumping slightly yesterday. Japanese index has once gain declined after making a high of 16957 yesterday. It is currently trading around 16892. It has formed al…
Nikkei225 is trading 0.47% lower in the Asian session after jumping slightly yesterday. Japanese index has once gain declined after making a high of 16957 yesterday. It is currently trading around 16892.
It has formed almost a double top at 16967 and started to decline from this level.
Technically in the daily chart the index is trading well above Kijun-Sen Tenken-Sen.But it should break above psychological level at 17000 for further bullsihness.
On the higher side, resistance is around 17000 and any break above targets 17159.Nikkei should break above 17159 for further bullishness.
The major support is around 16705 (daily Kijun-Sen)and any break below targets 16605 (daily Tenken-Sen)/16438 (100- day MA).
It is good to sell on rallies around 16900-950 with SL 17160 for the TP of 16610/16450
