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FxWirePro:Nikkei upside capped by 21-DMA, good to sell on rallies

Nikkei225 shown a slight jump above 19000 but not able to hold at higher levels. The index shown a slight jump till 19133 at the time of writing.It is currently trading around 18998 0.23% lower.

•USD/JPY has jumped till 113.98 after making a low of 112.52. It's upside capped by 5- day MA and any break above targets 115/115.62.It is currently trading around 113.43.

•Technically index is facing strong support at 18620 (60 day EMA) and any close below that level will drag the index down till 18272 (89- day EMA).The minor support is around 18818.

•On the higher side, major intraday resistance is around 19225 (21- day MA) and any break above will take the index to  19298/19397 (61.8% retracement of 19698 and 18650).

•The index should break below 18000 for further weakness.

It is good to sell on rallies around 19050-19080 with SL around 19230 for the TP of 18500/18280

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