FxWirePro:Nikkei225 downside capped by 100- day EMA, good to buy on dips
Major support - 18823 (100- day EMA). Major resistance - 19364 (61.8% retracement of 19669 and 18867). Nikkei has once again recovered after making a low of 19016 yesterday. It is currently trading at 19176 at 0.02% lowe…
Major resistance - 19364 (61.8% retracement of 19669 and 18867).
Nikkei has once again recovered after making a low of 19016 yesterday. It is currently trading at 19176 at 0.02% lower.
USD/JPY recovers sharply above 111.50 and jumped till 112.15 and any break above 112.20 (100- day EMA) confirms further bullishness. Minor weakness can be seen below 110 level.It is currently trading around 111.26.
On the lower side , 18823 (100- day MA) and any break below will drag the index till 18650/18230.
•The major resistance is around 19365 (61.8% retracement of 19669 and 18867) and any break above will take the index till 19600/19698.
It is good to buy on dips around 19050 with SL around 18825 for the TP of 19350/19600
