• 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