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FxWirePro:Nikkei225 downside capped by 23.6% fibo,good to buy on dips

Nikkei225 shown a mild dip till 19316 and slightly jumped from that level. It is currently trading around 19461 0.15% lower.

•Technically index is expected to trade higher as long as minor support 19315 (23.6% retracement of 18224 and 19653)  holds.

•On the higher side, major resistance is around 19700 (161.8% retracement of 19542 and 19273) and any break above will take the index till 20000/20280 in the short term.

•The index immediate support is at 19315 (23.6% retracement of 18224 and 19653) and any break below will drag the index down 19000/18800 (23.6% retracement of 16106 and 19653).

•The index should break below 18000 for further weakness.

 It is good to buy on dips around 19200 with SL around 19000 for the TP of 19700/20000. 

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