Nikkei has surges to fresh 21- year high once gain on account of strong global cues and weak yen.The index has jumped till declined till 22594 and is currently trading around 22470 0.23% lower. Fed has kept its interest …
Nikkei has surges to fresh 21- year high once gain on account of strong global cues and weak yen.The index has jumped till declined till 22594 and is currently trading around 22470 0.23% lower.
Fed has kept its interest rates unchanged and upgraded US growth assessment for the first time since 2015.
USD/JPY has shown a minor decline after hitting high of 114.23. The pair bullish continuation can be seen if it closes above 114.45 (161.8% fibo) level. The pair's major support is around 112.96 (daily Kijun-Sen) and any close below will dhe index till 112.20 (233- day MA)/111.65/111.13. It is currently trading around 113.80.
On the lower side, index major support is around 22296 (55- H EMA) and any break below will drag the index down till 22000/21836(233- H MA)/21400/21200.
The near term resistance is around 22600 and any break above will take the index to next level till 22780/23000.
It is good to buy on dips around 22000 with SL around 21729 for the TP of 22480/22750.
