Major resistance - 19698 ( Jan 9th 2017)
Nikkei recovered sharply from the low of 19190 on account of weaker Yen. It is currently trading at 19575 0.87% higher.
•USD/JPY has broken major resistance of 115 and jumped till 115.25 .It is currently trading around 115.18On the lower side 100 -day EMA acting as major support.
• On the lower side ,19315 (21 day EMA) and any break below targets 19190/19128 (trend line joining 18224 and 18973).
•The major resistance is around 19698 (Jan 9th 2017 high) and any break above will take the index till 19917 (161.8% retracement of 19566 and 18986)/20000. The minor resistance is around 19327 (daily Tenken-Sen)./19400.
It is good to buy on dips around around 19425-19450 with SL around 19300 for the TP of 19698/19900
