Nikkei has declined mildly after jumping till 19495 yesterday. Nikkei is facing strong support at 21- day EMA and any minor weakness can be seen only below that level.It is currently trading at 19328 0.48% lower.
•The index shown a slight selling on account of stronger yen and the pair has jumped till 114.95 and started to decline from that level. It is currently trading around 113.84.It's major resistance is around 115 and minor bullishness can be seen above that level.
• On the lower side , 19217 (21- day EMA) is acting as next immediate support and any break below targets19101 (daily Kijun-Sen)/18990 (61.8% retracement of 18638 and 19566)/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 sell on rallies around 19380-19400 with SL around 19566 for the TP of 19105/19000.
