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FxWirePro:Nikkei trades higher on weaker yen, good to buy on dips

Nikkei broken the high made on Feb 10th 2017 at 19458 and jumped till 19518 at the time of writing on account of weaker yen. Nikkei should break below 60- day EMA for minor trend reversal.It is currently trading at 19503 0.78% higher.

•The index is trading slightly stronger on account of weaker yen and the pair has jumped slightly above the major resistance of 113.50 (21- day MA). It's major resistance is around 115 and minor bullishness can be seen above that level.

• On the lower side , 19280 (30 - H EMA) is acting as next immediate support and any break below targets 19035 (200- H MA)/18850.

•The major weekly resistance is around 19566 (26th Jan 2017 high) and any break above will take the index till 19698/2000

It is good to buy on dips around 19350 with SL around 19200 for the TP of 19566/19698.

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